The Nikkei Average opened about 800 yen lower on the morning of the 21st. Interest rates rose again after the U.S. Treasury announced expanded buybacks of long-term government bonds, sending the major stock indexes lower across the board. Expectations have grown that fiscal concerns will drive fund inflows into gold and bitcoin, with gold prices up about 10% this month and bitcoin also surging.
The Nikkei Average, which rose on the 20th, was down about 800 yen at the start of trading on the 21st. The index was trending lower in morning trading, apparently also affected by turmoil in U.S. markets.
Interest rates, which had temporarily declined, rose again after the U.S. Treasury announced on the 19th that it would expand its buybacks of long-term government bonds. This is seen as one factor behind the declines in the 3 major stock indexes.
Market participants say funds are flowing into gold and bitcoin amid concerns over fiscal and currency conditions in developed countries, including Japan and the United States. Gold prices have risen about 10% this month, while bitcoin has also surged in the past few days.