Japanese Stock Market Closed for 'Labor Thanksgiving Day' Holiday

(Seoul=Yonhap Infomax) Yong Wook Kwon – On November 24, Japan's financial markets are closed in observance of the substitute holiday for 'Labor Thanksgiving Day'.

Labor Thanksgiving Day, held annually on November 23, is a national holiday established under Japanese law to "respect labor, celebrate production, and give thanks to one another."

Despite the Japanese government's announcement of large-scale economic stimulus measures last week, the Tokyo stock market continued to show weakness, particularly among technology shares. The Nikkei 225 Index closed at 48,625.88 on November 21, down 1,198.06 points, or 2.40%, from the previous session.

In contrast, U.S. markets rebounded across the board on November 21 (local time), as dovish comments from John Williams, President of the Federal Reserve Bank of New York, fueled expectations for a potential policy rate cut by the Federal Reserve (Fed), boosting risk appetite.

As of 07:57 AM, the dollar-yen exchange rate was trading slightly higher at 156.58 yen.

ywkwon@yna.co.kr

(End)