Take our user survey and make your voice heard.
picture of the day

Not just rain falling

12 Comments

A man under a colorful umbrella walks by the electronic stock board of a securities firm in Tokyo. Japan's benchmark Nikkei 225 dropped more than 495 points to 16,105,56 at one point on Monday. At the close of trading, the Nikkei lost 3.5% to finish at 16,019.18 points, its lowest since May 6.

© Japan Today

©2024 GPlusMedia Inc.

12 Comments
Login to comment

Fantastic pic on a number of levels! Love the colour, although I wouldn't be caught dead with an umbrella like that.

2 ( +6 / -4 )

That guy has guts to carry that umbrella.

4 ( +4 / -0 )

Another day, another person walking in front of something. ....

3 ( +6 / -3 )

papigiulio: "Another day, another person walking in front of something. ...."

Yeah, but in this case it's a somewhat subtle way of pointing out how the stocks are falling on fears over Abenomics, while also playing on the weather, and all with a nice capture of the colours.

2 ( +6 / -4 )

"stocks are falling on fears over Abenomics"

Not quite. Stocks fell sharply throughout Asia today, mainly over the latest Brexit polls and other uncertainties like a downward revision on the global growth outlook, plus in anticipation of central bank meetings.

In Tokyo, a big factor was the strength of the yen, which is what global investors buy when they get jittery. Why would they do that, one wonders.

-1 ( +3 / -4 )

Can't tell without more scale references. Perhaps he is in fact a very tiny man using an actual flower as an umbrella walking under a 40" TFT television.

1 ( +2 / -1 )

That guy has guts to carry that umbrella.

..if he was not wearing a mask, yes.

2 ( +3 / -1 )

I think the sun-flower umbrella is cool!

a big factor was the strength of the yen, which is what global investors buy when they get jittery. Why would they do that, one wonders.

Yes, because they speculate that in the short-term the yen will see some relative strength due to factors you cite, but also because they want to buy back yen they previously sold to hedge their investments in Japanese stocks, as they give up on those investments now. (They are not, I believe, buying yen in order to make new investments.)

Reuters has a story today on factors working against Japanese stocks, and "no structural reforms being delivered" was given as one reason. http://www.reuters.com/article/us-japan-stocks-idUSKCN0YY0MQ

That was a big part of the reason I gave up myself last November (with 30,000 yen "fruits of Abenomics" handouts for pensioners being the final straw).

-2 ( +1 / -3 )

When in doubt, buy yen.

0 ( +1 / -1 )

I'm still confused as to why the yen is in such demand when the economy is supposedly doing badly, stocks are falling and the economic future is apparently bleak. I know the yen is seen as a safe currency but I don't understand that either.

0 ( +0 / -0 )

Looks like a sunflower to me! Optimistic dude he is!

0 ( +0 / -0 )

"I'm still confused as to why the yen is in such demand when the economy is supposedly doing badly,"

You're not alone. Japan's economy is not doing great, but it's still better than many others, like Russia, Brazil, and much of Europe. US is one of the best, largely because in the wake of the financial crisis, Obama-Bernanke didn't backpedal or dither like the Japanese have done.

2 ( +3 / -1 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites