[SINGAPORE]
ACROSS global stock markets, nowhere is calm descending faster than in Japan.
The Nikkei Stock Average Volatility Index, which tracks the cost of options on the Nikkei 225 Stock Average, tumbled 33 per cent this year to 15.3 on Monday, the steepest decline among similar gauges tracked by Bloomberg worldwide. The measure touched 15.1 on July 8, the lowest in seven years. It climbed 4.5 per cent last week, compared with surges of 17 per cent on the benchmark US volatility index and 25 per cent in Europe.
Japanese stocks have been aided by public institutions for more than a year. Unprecedented central-bank easing drove a 57 per cent jump for the Nikkei 225 in 2013, and expectations of...
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