- Japan's current account deficit widened to a record ¥592.8B ($5.7B) in November from ¥127.9B in October and surpassed consensus of ¥380.4B.
- The increase comes amid a rise in the value of imports, particularly because of the weak yen, and higher demand for foreign energy because of the shutdown of nuclear plants.
- The long-term risk is that the deficit could become permanent, which could weaken confidence in Japan's massive debt. That scenario is being held off by a surplus in overseas income.
- The Nikkei plunges 3.2% in the first day of trading this week. The dollar rises 0.4% to ¥103.42 after dropping 1.1% overnight. (PR)
- ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JGBL, JPP, JPNL, JGBT, JPNS, FJP, JGBB
Japan's current account deficit surges
Jan 14 2014, 03:29 ET