On Monday, the Japanese Nikkei index closed at its lowest level in two months, down by 1.42% to 26,945.67, marking the lowest closing since January 23. The broader Topix index fell by 1.54% to 1,929.30.
Shigetoshi Kamada, General Manager of the Research Department at Tachibana Securities, stated, "I thought the news concerning the rescue of Credit Suisse would be positive for the market, but it declined deeper than I expected." He added, "Global investors are currently steering away from risky assets, so the Japanese market is declining in line with this trend."
It should be noted that amid this crisis, investors have lost confidence in U.S. regional banks and Credit Suisse in Europe. The banking sector in Japan fell by 1.88% after having jumped more than 1% earlier. The index has lost 13.6% so far. Mitsubishi UFJ Financial Group dropped by 1.84%, Sumitomo Mitsui Financial Group by 1.67%, and Mizuho Financial Group by 2.3%. Oil refineries reduced their earlier gains, with a decrease of 0.17%.
