Dollar/yen in the Tokyo market continued to strengthen, approaching the mid-¥157 range. With a domestic holiday and the US midterm elections ahead, positions were adjusted and the Nikkei Stock Average fell for a second consecutive session. Meanwhile, market attention is concentrated on tonight's US data and the outcome of the midterm elections.
Dollar/yen remained firm in the Tokyo market, rising by around 60 sen in the afternoon to approximately ¥157.99. Position adjustments were seen ahead of a domestic holiday and the US midterm elections.
Economic Revitalization Minister Jōnai expressed the view that the need for a cautious decision on declaring an end to deflation in connection with the BOJ's assessment of prices remains unchanged.
The Nikkei Stock Average closed ¥208.25 lower than the previous business day at ¥63,081.86, while the TOPIX ended at 3,930.28, down 34.79 points. The market was cautious ahead of the holiday at the start of the week and the US midterm elections.
The main focus in overseas markets is the US October ISM Manufacturing Index, forecast at 54.6 and expected to improve slightly from 54.5 previously. Depending on the market reaction, this could trigger movement in dollar/yen. Market attention tonight will center on the US midterm election results.