Brutal sell-off skims froth from Japan’s US$6 trillion market

Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Saturday, Aug. 10, 2024. Japan is scheduled to release its second-quarter gross domestic product (GDP) figures on Aug. 15. Photographer: Shiho Fukada/Bloomberg

TOKYO: Japanese equities shed US$1.1 trillion in value as they kicked off August with a record three-day loss.

For bullish investors, that’s providing a fresh reason to buy what has been one of 2024’s hottest trades.