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  1. Japan shares plunge after BOJ stands pat, Topix at 4-month low

Japan shares plunge after BOJ stands pat, Topix at 4-month low

The Topix fell as much as 2.2 percent to 1,249.04, its lowest level since mid-February while the Nikkei average fell up to 2.2 percent to 15,576.60, its lowest level since mid-April.

By: | Tokyo | Published: June 16, 2016 9:38 AM
The Topix fell as much as 2.2 percent to 1,249.04, its lowest level since mid-February while the Nikkei average fell up to 2.2 percent to 15,576.60, its lowest level since mid-April. (Reuters) The Topix fell as much as 2.2 percent to 1,249.04, its lowest level since mid-February while the Nikkei average fell up to 2.2 percent to 15,576.60, its lowest level since mid-April. (Reuters)

Japanese share prices tumbled on Thursday, with the broad Topix index falling to a four-month low, after the Bank of Japan refrained from introducing more stimulus.

Although such an outcome had been widely expected, there had been some speculation about easing due to the fragile state of the Japanese economy and BOJ Governor Haruhiko Kuroda’s history of surprising markets with policy decisions.

The Topix fell as much as 2.2 percent to 1,249.04, its lowest level since mid-February while the Nikkei average fell up to 2.2 percent to 15,576.60, its lowest level since mid-April.

ALSO READ: Japan shares G-7 push for inclusive growth with Asia, Africa

Carmakers were among the worst hit, as the BOJ’s decision pushed the yen more than one percent higher to a near 22-month high of 104.505 yen per dollar. Nissan Motor fell 2.0 percent while Toyota Motor shed 2.3 percent.

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