Japan Looks to SoftBank to Salvage a Rough Week
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It’s been tough sledding for traders in Japan since getting back to work after their super-sized Golden Week holiday, with stocks on track for their worst week this year.
The benchmark Topix index has slumped more than 4%, followed close behind by the Nikkei 225, despite Japan having had one less trading day than the rest of Asia. The pair are among the world’s worst-performing major stock indexes this week, after China and Hong Kong. With nowhere to hide in Asia amid a re-escalation of the trade war, the broader MSCI Asia Pacific Index has mirrored the drop in Japanese stocks.