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Rise and shine everyone. Happy Friday!
Global markets are closing out the week on a cautious note, with attention centered on election uncertainties, economic risks, and the health of the corporate sector.
In Japan, Bank of Japan Governor Kazuo Ueda, speaking from the U.S., indicated a cautious approach to any monetary adjustments, stating that the BOJ “still has time” to assess risks. Following concerns over the Yen’s recent depreciation, voiced by Japanese officials, the JPY regained some ground lost earlier in the week.
As Japan’s general election approaches on Sunday, speculation around a potential loss of control for Prime Minister Ishiba’s government has added to market hesitancy. The Nikkei index slipped by 1.0%, with financials and electronics sectors lagging, partly weighed down by Canon’s cut in its FY24 guidance.
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