Word: nikkei
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...economists may say it's not yet time to reach for the sunglasses, but Asia's economic storm is starting to clear. A brighter outlook for the remainder of 2003 propelled stock markets in South Korea and Hong Kong to 13-month highs last week; even Japan's moribund Nikkei index, which sunk to a 20-year low in late April, has since rebounded 35%. Meanwhile, retailers and real estate brokers in down-and-out Hong Kong say buyers seem to be slowly returning. "The general mood here has improved in the past two weeks," says Hong Kong Financial Secretary...
Land Of The Sun Is Rising European investors are missing out on one of the biggest stock-market rallies of the year - in Japan. As France's economy officially entered recession and Germany showed optimistic signs (and continued sputters), the Nikkei index of Japan's largest companies closed above 10,000 points last week for the first time in a year, and is up more than 30% from its low in April, outperforming the U.S. and many other markets. Behind the rise are signs that Japan's prolonged slump may be over. Foreign capital is pouring back into the stock...
...closing average of Japan's Nikkei 225 last Friday, a 20-year low; the drop was ascribed to anxiety about the looming war in Iraq...
...into crisis mode. Days earlier, the government released economic growth data that indicated recovery is even farther off than expected, thanks in part to economic weakness in the U.S., a key export market. Of more immediate concern: a sharp stock market decline?fueled by plunging bank stocks?sent the Nikkei average to its lowest level in 19 years on Sept. 3. That's a big problem for the banks, because they hold mountains of shares in Japanese firms. As their value evaporates, so do bank assets, ultimately threatening solvency. According to Brett Hemsley of Fitch Ratings in Tokyo, if stocks...
...Falling to pieces? Japan's Nikkei 225 stock index plunged last week to close at a 19-year low of 9,129. The fall caused market jitters throughout the region on fears it would stunt Japan's fragile economic recovery...