Bank of Japan makes no ETF purchases despite Topix slump

The Bank of Japan (BOJ) made no purchases of Japan stock exchange-traded funds (ETF) on Monday, data from the central bank showed, despite Japanese stocks dropping below the central bank's usual threshold for stepping in to buy stocks. While it was not immediately clear why the BOJ did not buy ETFs on Monday, it could signal a larger change, said Jun Morita, general manager of the research department at Chibagin Asset Management. "With the Nikkei hitting a record high and prices seeming to be rising to meet the BOJ's target, no purchases of ETFs by the BOJ means supporting the stock market has probably become less of a priority."