Japan’s Nikkei plunges 4% on stronger yen after Ishiba win

September 30, 2024

Japan’s Nikkei share average fell over 4% due to a stronger yen after Shigeru Ishiba, perceived as a monetary policy hawk, won the prime ministerial contest. The broader Topix index also declined, and government bond yields rose. Ishiba’s stance on monetary policy remains unclear as he assumes office on Tuesday.

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