In June, the stock market was pushed down in the middle of the month amid the lack of active buyers, but recovered and closed higher at the end of the month.
However, the stock market fell sharply in the middle of the month due to speculation that a certain financial institution, which had suffered heavy losses from its investment in foreign bonds, had conducted an operation to sell passive equity funds to take profits. The stock market then calmed down toward the end of the month and closed slightly higher than at the end of the previous month.
The TOPIX and JPX400 indexes gained 1.40% and 1.63%, respectively, in May, while the CG Top 20 index outperformed significantly both indices up by 2.04%.