Word: nikkei
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...they do in the U.S.; a money-losing division can be hidden away as a "subsidiary" and assets can be listed at inflated values. A hint of change in that direction could spark a stock-market rally as it did in 1999, when corporations finally began to restructure?the Nikkei soared 36.8% and smaller stocks doubled...
...mode, denying Monday that he'd told a weekend meeting of party elders that he'd resign. The denial, universally deemed mere lame-duck face-saving in advance of upcoming summits with George W. Bush and Vladimir Putin, tipped the Japanese markets over into panic mode and sent the Nikkei 500 plunging to lows not seen since 1985, the long-ago days when Japan was an economic juggernaut to be emulated...
...course Japan's economy is still in the tank (a Monday drop in the Nikkei to 20-year lows - yes, that's right, 20-year lows - started Wall Street off in a bad mood), and a global slowdown is still the hot new topic on pessimists' lips. Corporate earnings are still bad and getting worse, though it's hard to imagine how anybody could still be shocked and disappointed when they're told a company's profits are suffering in the current economic correction. And while unemployment is still well-contained, layoffs are still part and parcel of each...
...trading, NASDAQ had clawed its way back a healthy 6 percent gain following its Friday plunge, while the Dow had soared by 217 points. Earlier, traders spooked by New York's frightful Friday fled Asian markets in droves, shaving 7 percent off Tokyo's Nikkei index and 8.6 percent off Hong Kong's Hang Seng. London's FTSE fell 4 percent to a six-month low in the first minutes of trading before leveling out, along with similarly hit European markets, into a holding pattern ahead of New York's opening. Despite Monday's good news, the market remains nervous...
...blessing. Yen strength amounts to a vote of confidence in the Japanese economy, which, after a decade-long slump, is at last beginning to show signs of life. The renewed activity has sucked in U.S. and other foreign money for 33 of the past 35 weeks, driving up the Nikkei stock market average some 25% so far this year. The problem is that Japanese corporate profits are also heavily dependent on exports, which can rapidly become too expensive for foreign consumers as the yen appreciates. Indeed, big exporters like Mitsubishi and Bridgestone have begun to complain publicly that Japan...