(Update) Japan's GPIF Logs 9.1-T.-Yen Loss for July-Sept.

   Tokyo, Nov. 1 (Jiji Press)--Japan's Government Pension Investment Fund said Friday that it suffered an investment loss of 9,127.7 billion yen in the July-September quarter.
   The pension fund was in the red on a quarterly basis for the first time since July-September 2023. It was the biggest loss since Jan.-March 2020, when it logged a loss of 17,707.2 billion yen during the COVID-19 pandemic.
   The latest loss was attributed to the yen's strengthening against other major currencies and stock price falls, following the Bank of Japan's interest rate hike and amid uncertainty over the U.S. economy.
   The yen was bought against the dollar as the interest rate gap between Japan and the United States narrowed after the BOJ decided to raise interest rates in late July and the Federal Reserve cut rates in September.
   The stronger yen dwarfed the yen-based value of foreign currency-denominated assets while fueling concerns about the profitability of Japanese companies, which weighed on domestic stocks.

(2024/11/01-20:55)

To read a full story, please click here to find out how to subscribe.