Japan chief cabinet secretary Hayashi says no comment on daily share moves

Hayashi:

• No comment on daily share moves
• Continue to monitor
  economic and financial situation in Japan and overseas with sense of
  urgency
• Continue to work
  closely with BOJ

Chinese shares are having another strong day as stimulus measures are assessed and new ones get rolled out, the lates being over the weekend – lower mortgage rates and easing home buying restrictions:

• More stimulus from China over the weekend – banks instructed to cut mortgage rates

But, Japanese shares are the opposite. Smashed lower. I’ve seen this blamed on the props[etc of higher interest rates, new PM IShiba is in favour of BoJ normalistrion.

However, I’d point you towards the strong yen. This does not do Japan stocks much good. And, yes, of course its related to the prospect of higher rates.

This article was written by Eamonn Sheridan at www.forexlive.com.