Word: nikkei
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...another half point cut could come as soon as next week - arrested, at least temporarily, the rout in equity markets around the world, which had hit Asia's bourses particularly hard. In the trading day before the rate cut, Hong Kong's Hang Seng had declined 8%, Tokyo's Nikkei 5.7% and Mumbai's Sensex 12 percent...
...what you will about today's global economy, it ain't dull. In a cascade of worry on a single trading day, Jan. 21, Hong Kong's Hang Seng index plunged 8.6%, Tokyo's Nikkei 5.7% and Mumbai's Sensex 12.9%. It was a worldwide mini-meltdown, and the Federal Reserve Board wasn't about to let that go unanswered. Before the U.S. markets had even opened, Fed Chairman Ben Bernanke - not a man known for dramatic gestures - slashed a key interest rate three-quarters of a percentage point. The surprise move arrested the rout, and the markets have since...
...With the government and the central bank coordinating more closely, the economy slowly revived. It's now in full swing, enjoying one of its longest postwar expansions. GDP grew 3.2% in the last fiscal year and the Nikkei stock index is up 66% in three years. Spending is up, wages are up, even property prices are rising again, and unemployment is at an eight-year low. With conditions improving, Fukui has made no secret of his desire to end the anomalous zero-interest era, saying he favors acting early and in small steps. In March, the BOJ declared...
...Sideswiped by Livedoor's crash, shares in other merger-hungry firms like Rakuten, Softbank and Yahoo! Japan are still down between 9% and 15%, even though nobody has suggested they did anything illegal. But with the broader Nikkei 225 stock index almost fully recovered from the scandal, there's a sense that the speculative euphoria in Japan is still alive and frothing. After the previous decade of disappointing financial returns in Japan, no one-not the bankers, the investors or even the regulators-has much inclination to believe that Livedoor is anything but an isolated case, or much motivation...
What?s going on in Tokyo? Why so much glee over a disaster? After one of Japan?s hottest internet companies was revealed to be mired in financial scandal, the Nikkei was sent reeling, and the stock market tumbled 3% two days in a row. An investment firm executive linked to the controversy was found dead in an Okinawa hotel room, an apparent suicide. So why are upstanding members of Japan?s business establishment barely able to contain their happiness? It?s all in how you say ?schadenfreude? in Japanese...