日股新高下的央行警告：早期过热迹象显现 紧盯美国政策风险

Core Insights - The Bank of Japan has indicated early signs of overheating in the domestic stock market and warned that uncertainties in U.S. trade policy could lead to significant market corrections, impacting financial institutions [1] - The Nikkei 225 index reached a historical high, rising nearly 24% this year, following the election of Japan's first female Prime Minister, Sanae Takaichi [1] - The financial system report highlighted that foreign hedge funds have increased leverage in Japanese Government Bond (JGB) trading, which may amplify market volatility [1] Group 1 - The financial system report's "heat map" indicates that stock prices are marked as "red," suggesting overheating, while other asset categories remain "green," showing no significant deviations [2] - Real estate prices are also on the rise, particularly in core urban areas, driven by increased investment demand from foreign investors [2] - The Bank of Japan maintains that the overall financial system is stable, with banks having sufficient capital and stable financing capabilities to withstand various risks [2] Group 2 - Data from the Real Estate Economic Institute shows that the average price of newly built apartments in the Tokyo metropolitan area increased by 20.4% year-on-year from April to September [3] - The Bank of Japan ended its aggressive stimulus program last year and raised short-term interest rates to 0.5% in January, believing it is close to achieving a 2% inflation target [3] - The Bank of Japan's Governor Kazuo Ueda emphasized a cautious approach to future rate hikes due to uncertainties regarding the impact of U.S. tariffs on the Japanese economy [3]