Word: nikkei
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Dates: during 1990-1999
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...Minister Keizo Obuchi, who's known as a consensus builder rather than a Teddy Roosevelt. "The LDP needs a consensus to govern," says Gibney. "The fact that Hashimoto had views of his own had stalled the reform process." Japan's markets initially plummeted on the election results, but the Nikkei closed up 1.68 percent after it became clear that Hashimoto was taking the fall. In the absence of strong leadership, a prime minister who can build a consensus on decisive action remains preferable to the recent paralysis...
...from his pledge by Hashimoto on Sunday, Japanese officials have executed an impressive flip-flop. Hashimoto hadn't actually "used the words 'permanent tax cuts,'" said Deputy Chief Cabinet Minister Teijiro Furukawa, and Obuchi "didn't make a public promise." That rug-pulling sent both the yen and the Nikkei index tumbling in Monday's trading and left the rest of the world wondering whether any of Japan's promises to anxious U.S. officials over the past few months have been worth anything at all. It certainly doesn't look that...
...Hashimoto's words had the desired effect: Trading in Tokyo ended on a yen surge against the dollar and a 200-point boost in the Nikkei index. But was this just electioneering -- Hashimoto made the crowd-pleasing comments at a campaign rally. The July 12 parliamentary election will be a referendum on how Hashimoto performed during this crisis. Unless his Liberal Democratic Party thrives in the election, Hashimoto's promises could turn out to be empty...
...signs were not good. Four major Japanese financial institutions collapsed last month, dragging the value of the yen to a five-year low. The Nikkei stock-market average ricocheted anxiously on every shred of news. The only figures on the rise were those for bankruptcies, unemployment and suicides. National confidence congealed into a deep gloom as headlines warned of the coming "Great Depression." The government that for so many decades guided the economy with an iron hand is floundering, seemingly at a loss for ways to yank the country out of its tailspin. Kazumi Ehara, an auto salesman in suburban...
...presidential election victory by Kim Dae-jung, who had previously indicated an intention to renegotiate the IMF bailout ? although he quickly moved to assure the international banking community that he would do its bidding. Investors in Tokyo capped a gloomy week with a sell-off that drove the Nikkei down 5.3 percent, while Hong Kong?s Hang Seng index fell 3.2 percent...