Japanese Economy
Tokyo stocks fall for third day amid Middle East tensions, economic concerns
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Tokyo stocks declined for a third consecutive day as tensions escalated in the Middle East over Iran. Bank of Japan Governor Kazuo Ueda warned of significant potential impacts on the economy, while the government stated there would be no immediate disruptions to oil supplies.
Japanese companies issued ¥1 trillion worth of convertible bonds in the first half of the year, the highest amount since 2004.
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With naphtha-made products still in short supply, Prime Minister Sanae Takaichi's government faces questions over using two laws to punish hoarders.
Corporate bankruptcies in Japan involving liabilities of at least ¥10 million reached 887 in January, the highest in 13 years, according to Tokyo Shoko Research. The figure rose 5.5% from a year earlier, marking an increase for the second straight month.
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Japan's Nikkei 225 stock average tumbled more than 1,000 points early Monday amid a surge in the yen against the dollar, dipping below 53,000. The currency's strength has fueled speculation of foreign exchange intervention by Japanese and U.S. authorities, heightening market tensions.