Japanese stocks rebound
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 6 August 2024
⏱️ 7 minutes
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Summary
From the BBC World Service: After a dramatic 12% drop yesterday, Japanese stocks have rebounded — with the Nikkei 225 finishing more than 10% higher at the close of trading. Then, following weeks of unrest in Bangladesh and the resignation of its prime minster, the IMF says it’s committed to the country’s economic stability. And we’ll hear about a scam targeting Chinese people around the world, in which criminals pretend to be Chinese police.
Transcript
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| 0:00.0 | I feel like we're on a market's roller coaster as Japan's Nicket skyrockets just a day after its historic plunge. |
| 0:07.0 | Good morning, thanks for tuning in to the Marketplace Morning Report from the BBC World Service. |
| 0:11.0 | I'm Leanna Byrne. |
| 0:12.0 | Yes, after a dramatic 12% drop yesterday, Japanese stocks |
| 0:16.5 | have rebounded. The BBC's Mariko I is back to talk us through it. Hi Mariko. |
| 0:21.4 | Hello again. |
| 0:22.8 | Mariko a lot of listeners are going to be waking up and thinking what has happened in |
| 0:27.0 | global markets and I'm just going to say Mariko take it away. |
| 0:30.3 | Well I shall be the deliverer of good news today like yesterday because Japan's main |
| 0:38.4 | index at Nik 2.25 actually ended the day 10% higher, more than 10% higher in fact. Basically if you look at the |
| 0:45.9 | points they have almost just about recoup all the losses that they suffered yesterday. So yesterday I think I was telling you |
| 0:53.6 | that this is the biggest points fall in history, bigger than COVID, bigger than the |
| 0:58.8 | biggest earthquake to hit the nation and bigger than even Black Monday. And today, guess what? This is the biggest |
| 1:05.7 | daily rally on record. So extreme volatility, definitely not for the faint-hearted, but definitely a much better day. |
| 1:14.6 | Absolutely, but why? |
| 1:16.2 | Why Marika, why this big rally? |
| 1:18.2 | Oh, I think I've given up and trying to figure it out to be honest. Let's put it this way. I think even yesterday |
| 1:24.7 | many analysts were saying don't sell him panic. You know fundamentals are strong and |
| 1:29.2 | even though yes that job state from the United States from last Friday which feels like a |
| 1:34.0 | long time ago even though that was pretty bad news you know the fundamentals are |
| 1:39.1 | strong in the US economy as well as Japanese companies and Japanese companies and I think today's rally kind of |
| 1:45.4 | shows that that view might have been correct you know they were reacting to |
... |
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