The Bank of Japan said it made no purchases of Japanese exchange-traded funds on Monday despite local shares dropping sharply, stoking speculation that a shift away from ultrasupportive monetary policy is imminent.
It was not clear from data published by the central bank why it did not buy the listed funds even as the Topix index slid 2% — a mark that generally draws a response.
However, a backdrop of a broadly soaring stock market and signs of long-awaited wage and price growth is drawing bets that the BOJ might back away from its ultraeasy policy settings as soon as its next meeting in a week's time.
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