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| Asian Markets Move Toward Stability After ‘Brexit’ Turbulence | Asian Markets Move Toward Stability After ‘Brexit’ Turbulence |
| (about 2 hours later) | |
| TOKYO — Financial markets regained some of their equilibrium in Asian trading on Tuesday after days of turbulence following Britain’s vote to leave the European Union. | TOKYO — Financial markets regained some of their equilibrium in Asian trading on Tuesday after days of turbulence following Britain’s vote to leave the European Union. |
| The pound, whose precipitous slide since the “Brexit” decision took it to a three-decade low on Monday, clawed back some of its losses, while the region’s most prominent stock average, the Nikkei 225 in Japan, rose during trading in Tokyo. | |
| Fallout from the British vote on Thursday has shaken markets worldwide, as investors have grappled with a long list of uncertainties. Britain and the European Union must find a way to navigate the complex separation process, and it was unclear whether either entity could survive without disintegrating further. | Fallout from the British vote on Thursday has shaken markets worldwide, as investors have grappled with a long list of uncertainties. Britain and the European Union must find a way to navigate the complex separation process, and it was unclear whether either entity could survive without disintegrating further. |
| In Asia, Japanese officials sought once again on Tuesday to prevent the strengthening of the yen, an asset that many currency traders see as a haven from troubles in Europe. | In Asia, Japanese officials sought once again on Tuesday to prevent the strengthening of the yen, an asset that many currency traders see as a haven from troubles in Europe. |
| A stronger yen is widely seen in Japan as bad for corporate profits and deflation, and Finance Minister Taro Aso said that the authorities were ready to respond if necessary. | A stronger yen is widely seen in Japan as bad for corporate profits and deflation, and Finance Minister Taro Aso said that the authorities were ready to respond if necessary. |
| “Financial market stability is extremely important,” he told reporters after a regular cabinet meeting, though he added that markets were “somewhat calmer this week.” | “Financial market stability is extremely important,” he told reporters after a regular cabinet meeting, though he added that markets were “somewhat calmer this week.” |
| The yen was little changed on Tuesday, at just over 102 to the dollar. The Nikkei, which has fluctuated wildly since the “Brexit” vote – plunging almost 8 percent on Friday and rebounding 2.4 percent on Monday – stayed basically flat on Tuesday, rising less than 0.1 percent. | |
| Shares in Shanghai closed up about 0.6 percent on Tuesday, and Hong Kong’s Hang Seng index dropped by about 0.25 percent. China’s tightly controlled currency, the renminbi, also weakened slightly, after the Chinese central bank set the midpoint of its narrow permitted trading band at the lowest level since December 2010. | |
| The pound was trading at about $1.33, up from a low of about $1.31 on Monday. | The pound was trading at about $1.33, up from a low of about $1.31 on Monday. |