Word: nikkei
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Dates: during 1990-1999
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...recession in Japan springs from the go-go days of the 1980s. From January 1985 to December 1989, the Nikkei stock average shot up from 13,136 to 38,915, fattening Japanese stock portfolios with tremendous paper profits. At the same time, the real estate market was so hot that corporate land holdings were typically more valuable than the factories built on them. And since 59% of all Japanese own their own homes, the great surges in real estate values made nearly everyone feel wealthier. Many companies and some individuals began to borrow vast sums of capital for expansion, using...
...they resumed their bullishness when there was no immediate retaliation. The Dow Jones average closed the week at 2646.78, up a record 145.29 points. In Germany the Frankfurt exchange registered its largest single-day advance in history and gained more than 1.6% for the week, while Tokyo's Nikkei index rose...
...contemporary art market, then, the fall 1990 sales were a massacre. Scared by the descent of the Nikkei stock index, the Japanese -- who in 1988 accounted for more than half the total recorded sales volume of all art bought at auction worldwide -- bid sluggishly or sat on their hands. The Japanese buyers did not even come out for a Van Gogh still life that was expected to make $12 million to $16 million at Christie's Impressionist and modern sale two weeks ago. It too was bought in, at $9.5 million. However, a fine Van Gogh ink sketch was bought...
...Japan the epic slide of the Tokyo stock market began with fear of rising interest rates at home, and has been accelerated by rocketing oil prices abroad. Tokyo's Nikkei index has fallen from its peak of 38,915 last December to a closing price of 22,828 last week. "This has probably been the largest bear market in any country since World War II," says Peter Tasker, head of research at Kleinwort Benson International in Tokyo. In a fleeting burst of euphoria, the index zoomed a record 13% last Tuesday, but much of the gain was the result...
CAPTION: Tokyo Nikkei Index...