Why the Bank of Japan Bought $300 Billion of Stocks

Jun 01, 2021 | News On Japan

Jun 01, 2021 (asianometry) - By December 2020, the Bank of Japan had become the single biggest shareholder of Japanese stocks.

Over the span of a decade, the central bank bought hundreds of billions of dollars in Tokyo-listed stock ETFs as part of its monetary easing programs, sitting on a handsome $130 billion profit. You might be forgiven for wondering if it is normal for a central bank to buy "stonks". It has never been done before in this way. Yet as Japan threatened to enter another era of economic stagnation and deflation, the bank decided to go where no bank has gone before in an effort to fight the future.

Powerful Typhoon No. 9 to Approach Okinawa on Friday

A large and very strong Typhoon No. 9 is expected to move west while maintaining its intensity, bringing the risk of violent winds, dangerous seas and a direct impact on Okinawa's Sakishima Islands around Friday and into the weekend.

Japan Lowers Passport Fees to 7,000 yen

Japan lowered passport application fees from July 1, drawing large crowds to application counters such as the one in Tokyo’s Shinjuku district, although applicants are being warned that issuance could take as long as about one month.

Tokyo to Set Accommodation Tax at 3% From Next April

Tokyo will introduce a 3% accommodation tax on hotel and other lodging stays from April 2027, formally replacing its current flat-rate system and extending the levy to private lodging services.

Heavy Rain Disrupts Rail Services in Northern Kyushu

Heavy rain continued across northern Kyushu, with some parts of Fukuoka Prefecture recording 120 millimeters of rainfall in the 24 hours through 3 p.m. on July 5.

Osaka Mosasaur Fossil May Rewrite Japan’s Prehistoric Record

A fossil discovered in Osaka has led to Japan’s first finding of its kind, raising the possibility that a giant marine predator believed to have swum in the seas around the Kansai region about 70 million years ago was a previously unknown species.

MEDIA CHANNELS

MORE Society NEWS

Disgruntled Trainee Monk Accused of Setting Fire to Temple

A trainee monk has been arrested on suspicion of setting fire to Entsuji, a temple in Imari, Saga Prefecture, after a June blaze destroyed its main hall and living quarters, with the suspect telling investigators he had become dissatisfied with the amount of training and the way he was being instructed.

Woman Arrested After Allegedly Sewing Housemate’s Lips Shut

A 49-year-old woman in Koga, Ibaraki Prefecture, has been arrested on suspicion of injuring a 42-year-old woman she lived with by sewing her upper and lower lips together multiple times with a threaded needle, police said.

Worker Found Floating During Runway Setup for Birdman Contest

A 59-year-old worker died after apparently falling about 11 meters into Lake Biwa while helping set up the runway for the Birdman Contest in Hikone, Shiga Prefecture.

Foreign Man Jumps Into River and Flees Near Osaka Detention House

A man believed to be a foreign national jumped into a river and swam away near the Osaka Detention House in Osaka’s Miyakojima Ward on the afternoon of July 6 while being pursued by Aichi Prefectural Police, and authorities are still searching for him.

Who Stole 11 Buddhist Statues From a Gifu Temple?

A temple in Yamagata, Gifu Prefecture, reported the theft of 11 Buddhist statues and other items on the morning of July 6, prompting police to investigate the case as a burglary.

Prince Group Boss Rearrested in Japan Over Immigration Violation

A senior figure believed to be one of the top executives of the Prince Group, described as one of Asia’s largest criminal organizations, has been rearrested in Tokyo on suspicion of violating Japan’s Immigration Control and Refugee Recognition Act by unlawfully handing over his residence card to others, the Metropolitan Police Department said.

Japan’s Youth Overdose Crisis Is Spreading Beyond Street Hangouts

The growing abuse of over-the-counter drugs among young people in Japan reflects not only easy access to medicines but also loneliness, social media influence and a shortage of places where troubled youths can be safely seen and heard, according to a discussion among an addiction specialist, a former overdose user and a recovery worker with experience of drug and alcohol dependence.

Indian Restaurant in Yokohama Destroyed by Fire

An Indian restaurant in a shopping street in Yokohama's Nishi Ward was destroyed by fire on Saturday morning, with 34 fire engines and other emergency vehicles sent to the scene.

< 2 3 4 5 >