Anti Zero-Covid demonstration that led to China’s domestic political tension will impact the country as the world’s second-largest economy. At the beginning of the week, investors tend to be Risk-On on the Safe Haven, with yields falling on UST2Y and UST10Y, contrasting with Wall Street stock markets that consistently move in the red zone. The DJIA was briefly depressed by more than 500 points before finally closing downwards by 1.5%. Another Safe Haven instrument was also appreciated, DXY again trading above the psychological level of 105 points. Meanwhile, global crude oil is again under pressure, contrasting to the start of the European Union’s ban on Russian crude imports as of December 5.
Wait and See ahead of the BI Annual Meeting, causing the NHKSI Research project that JCI today has the opportunity to move sideways again. Investors look forward to BI’s views on the economy and monetary policy this year and next at the BI Annual Meeting scheduled on Wednesday, November 30. As for the beginning of the week, JCI closed down 35 points to 7,017, with Technology Sector depreciating 3.8% or leading the sectoral decline.
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