Nikkei 225 index daily chart
The BOJ at work today? Well, definitely someone is in trying to keep the market calm after having seen the Nikkei experience its worst plunge since 1987 yesterday. The index was up roughly 8.8% in the final minute before a sudden jump at the end to close 10.2% higher on the day.
A welcome rebound in Japanese yen pairs as well as bond yields is also definitely helping. That said, sentiment is still very much in a fragile state after the margin calls yesterday. It will take some time for the dust to settle but at least for now, there is some form of relief. The Nikkei is still down over 11% in August trading though. Pain.
