Not a good start to the new fiscal year for Japanese equities.
– -594.51
– open 16719.56
– high 16719.56
– low 16113.01
– USDJPY 112.25 and still underpinned into 112.00. Offers at 112.50.
The Tankan survey was the main cause for the falls with theutilities sector continuing to sell-off (-4.39%) during the afternoonsession, with today seeing the first day of deregulation of Japan’s powerindustry.