Word: nikkei
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...rates. A credit squeeze seems likely. John Hickling, portfolio manager of Fidelity Investments' Pacific Basin Fund, thinks the liquidity drought has arrived. Since nothing spooks stock-market investors like the prospect of rising interest rates and a credit crunch, Japanese shareholders have been cleaning out their portfolios, driving the Nikkei average on the Tokyo exchange down more than 30% from its late December high...
...Jones industrial average fell 93.31 points Monday, then recovered a bit, but closed the week at 2716.58, down a total of 93.07. As recently as July 16, the Dow had climbed to an all- time high of 2999.75. In Japan, which is almost wholly dependent on foreign oil, the Nikkei Index of 225 stocks closed Friday at 27,329.55, down 7.4% for the week and 11.4% since Iraq invaded Kuwait...
...price of West Texas Intermediate crude, the benchmark for trends in the U.S. oil market, ended the week at $24.49, an increase of $3.51 in two days. In Tokyo the Nikkei stock index plummeted 729.42 yen, closing the week at | 29,515.76 yen. The market drop reflected concern that Japan, which depends on imported oil for 57.9% of its energy needs, might face tougher economic times. In Europe, which also relies heavily on Middle East oil, stock and currency markets gyrated nervously...
...most stunning measure of Japan's mood swing is the Tokyo market, where the Nikkei average closed at 30,372 last week, down 6.9% for the week and 22% from the all-time high it reached last Dec. 29. In a fit of near panic last Thursday, the market plunged 6% in just one morning session -- equivalent to a 162-point drop in the Dow Jones average -- before recovering later in the day to post an overall 3% loss. "We knew it had to come sooner or later. Many of us just stood there blankly," said a floor dealer. Another...
...meantime, the Tokyo market may be in for a few more rounds of volatility. Most forecasters expect the market to fall even further. No matter where the yen and the Nikkei finally settle, the recent churning in Tokyo's financial markets suggests that Japan is a less independent -- and probably less dominant -- economic power than it had been considered...