Japanese stocks stepped back on Wednesday morning as heavyweight
Softbank tumbled after slashing its profit forecast, while the broader
market took a breather after outsized gains inspired by a fresh stimulus
drive by the Bank of Japan.
The Nikkei benchmark soared 7.5 percent in the last two trading days,
sending the index to its highest point since before the collapse of
Lehman Brothers.
Tuesday also saw the second highest turnover of shares on record, as
investors cheered the BOJ’s policy announcement on Friday, as well as
the Government Pension Investment Fund’s decision to increase its
allocation of funds to domestic stocks.
2014/11/05
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