Fear and Greed Move the Markets

Yesterday was all about fear, related to the India stock sell-off and concerns about the forthcoming ISM data release in the U.S., which turned out lower-than-expected, but not enough to really push U.S. stocks in the red. At any rate, Japanese stocks were bought back, nearly recovering yesterday’s 1.5% loss on the Nikkei. The Nikkei 225 gained 1.3% to 17,244.05. Advancers on the TOPIX 1st section outnumbered decliners 1,012 x 591 (126 unchanged). 29 of 33 sectors recorded gains. The TOPIX also rose 1.3% to reclaim the 1,700 level, closing at 1,704.32.