The Nikkei 225 plunged 389 points or 1.4% to finish at 27,581 on Wednesday, falling for the first time in four sessions, as traders moved away from riskier assets after the IMF cut 2021's GDP growth forecast for Japan to 2.8% from an earlier estimate of 3.3%. Meantime, Japan's cabinet minister shared a strong sense of urgency over Tokyo’s record-high number of daily virus cases of 2,848 Tuesday. Sentiment was also dented by a pull-back in Wall Street following another rout in Asia due to Beijing's regulatory crackdowns in some sectors. In business news, Toyota Motor Corp reportedly will suspend another three assembly lines in Japan for several days in August due to supply chain disruptions in Vietnam. Investors now await the Fed's policy statement later in the day. Shin-Etsu lost 1.3% after the silicon wafer manufacturer’s forecast of a record profit for the current year came almost in line with market expectations.
Historically, the Japan Stock Market Index (JP225) reached an all time high of 38957.44 in December of 1989. Japan Stock Market Index (JP225) - data, forecasts, historical chart - was last updated on July of 2021.
The Japan Stock Market Index (JP225) is expected to trade at 26728.66 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 24468.70 in 12 months time.