CashNews.co
TOKYO — Japan’s Government Pension Investment Fund on Friday posted a July-September loss of 9.18 trillion yen ($60.1 billion), hurt by the yen’s sharp appreciation and a stock market downturn in August.
The 3.57% loss was the worst since the quarter ended in March 2020, when the COVID-19 outbreak sent shock waves through financial markets worldwide. The most recent loss for GPIF, one of the world’s largest institutional investors, marked its first in four quarters.