Matt Goodson: Salt Funds Management expert on global markets stabilising after this morning's announcement
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
The Japanese market is clawing its way back, after an epic tumble overnight.
Its Nikkei had a historic one-day drop - the first in a volatile chain of global financial markets.
It's now starting to stabilise, sitting about nine percent up on yesterday.
Matt Goodson from Salt Funds Management says Japan's weakness began a couple of days ago, when the central bank hiked up cash rates.
"The Japanese market had been pretty strong all year, the yen had been really weak - and that just turned everything around, the market fell hard, the yen really strengthened."
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