- The BOJ kept interest rates unchanged and announced it will nearly triple the pace of ETF sales starting in January.
- The new ETF sales pace is about ¥860 billion ($5.5 billion) per year based on book value.
- The Nikkei 225 was under selling pressure from a global tech selloff and pared losses to trade roughly 2% lower in the afternoon.
- Japanese equities shrugged off the surprise ETF sales acceleration, with investors showing confidence in the market's ability to absorb the extra supply.
Quotes
“nearly triple the pace of ETF sales starting in January to about ¥860 billion ($5.5 billion) per year based on book value”