real-time news and commentary for investors
Monday, Sep 30
Tankan survey beats expectations as Abe readies tax hike
- Japan Tankan large manufacturing index: 12 versus 7 expected and 4 in the quarter through June.
- The print was the highest reading since December of 2007.
- This is welcome news for Prime Minister Shinzo Abe as he prepares to raise the sales tax to 8% from 5% — upbeat economic news reinforces the idea that the Japanese economy can withstand the tax hike.
- Japan August household spending: -1.6% versus +0.1% expected.
- Nikkei +1%, yen -0.39% to ¥98.59.
- ETFs: EWJ, NKY, EWV, EZJ, ITF, JSC, JPP, DXJ, SCJ, DFJ, FJP, JPNL, JPNS, DXJS, JGBT, JGBL, JGBS, JGBD