距2024年“日本央行意外加息”已满一年，日本股市当前重新站稳脚跟。东证指数近期再次接近历史高位，投资者普遍认为市场已逐步适应利率上升的结构性变化。
2024年8月5日，日本央行突然加息导致东证指数单日暴跌12%，市值蒸发逾6,700亿美元，并引发日元套利交易大规模平仓。彼时，日本市场一度陷入恐慌。
彭博分析指出，与去年相比，如今市场对加息的反应明显更为温和。得益于央行政策沟通更加清晰、企业改革推进以及美国关税谈判进展超预期，投资者预期管理更为充分。
VanEck策略师表示，尽管上周五因美国就业数据疲软导致日元兑美元上涨2%，但相较去年同期10%的剧烈升值，当前汇率波动相对可控。大规模套利交易平仓风险已显著下降。
市场机构普遍认为，日本央行后续仍可能加息，但当前投资者已具备心理预期，市场对“加息新常态”的适应程度正在提升。（国际财闻汇）
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