We're all Topix traders now
The Nikkei is down to session lows, sinking by nearly 1.8% on the day as the BOJ pulled back ETF support to some degree but also made reference to the fact that future ETF purchases will track the Topix index only instead.
With regards to ETF purchases, the Bank will only purchase ETFs tracking the Tokyo Stock Price Index (TOPIX), which is an index with the largest amount of component stocks.
Both indices have been sitting lower on the day but the Topix has now moved to trim declines to just 0.1% in a surge higher after the lunch break.
