FOCUS: Skepticism over Kishida’s economic policy dims Tokyo stocks outlook

Published by
Kyodo News

The Tokyo stock market is expected to struggle to sharply rebound from its recent plunge as the economic policy of new Prime Minister Fumio Kishida adds to concerns over the post-pandemic growth outlook. The benchmark 225-issue Nikkei Stock Average has dropped 8.5% from a 31-year high marked in mid-September to end at 28,048.94 on Friday. The market was rattled by China Evergrande Group’s debt crisis and rising long-term U.S. Treasury yields coupled with higher oil prices. Market analysts say the key index is not likely to dip below this year’s closing low of around 27,000, helped in part by a…

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