The Nikkei 225 Stock Average fell for a second day, losing 1.01% to 17,363.95 — lowest close since 4/3. Trading and sales volume rose today due to SQ-related trading. Overall, there was a lack of positive news/information to buy on and anytime there’s an economic data release coming out of the U.S. (when isn’t there?) and especially when there’s an event such as the meeting this weekend between G7 financial ministers and central banks, the most common action taken seems to be to sell. Selling in N225 futures led to the drop in stocks in the afternoon session. In fact, today there were reportedly position reductions and maybe some liquidations coming from overseas in the auto sector: Toyota, Nissan, Honda and leading mini-car makers all hitting new calendar year lows.
