Word: nikkei
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...that experienced some of the world's fastest economic growth from 1949 to 1991, the land where "better, faster, cooler" products are a national obsession. But frankly, the Japanese are not enjoying the financial ride they are on at this moment. Since the start of the year, Japan's Nikkei index has gone up nearly 30%. (In the U.S., the Dow has risen 19%.) The country's economy, which had been given up for dead by most of the world's leading economists, astonished analysts with a first-quarter annualized growth rate--nearly 8%--that is almost three times what...
...probably not the most secure in the world. You know you need to get some new skills. And then one day you win the lottery. Life is suddenly a whole lot better. Money, it seems, cures everything. The problem in Japan is that even though having the new Nikkei riches may seem like winning the lottery, it's not. In fact, the money could disappear tomorrow, leaving Japan with a still troubled economy. A rising Nikkei may seem to tell the world that Japan is back, but the Japanese--and some wary foreigners--insist it is not. Says Andrew Shipley...
...Nikkei rocket has been fueled almost entirely by foreign cash. In the last month foreigners have bought $1.8 billion of Japanese equities on average each week, according to Bridgewater Associates, a money-management firm based in Wilton, Conn. At the same time, locals have sold more than $2 billion worth each week. Cashing out? You bet. That imbalance between sellers and buyers finally caught up with the market last week, which ended in a 4% dive...
...bottom-up restructuring that transformed dinosaurs like Ford into world-class competitors. Ever since the Meiji era, when the nation ended centuries of isolation, Japan has proved expert at adopting American ideas to its own revolutionary needs. In the eyes of investors, at least, that would suggest that the Nikkei may indeed be the next...
...therein lies Japan's vicious cycle: The bursting of the country's banking and real estate bubble created a credit crunch throughout Asia, and the consequent financial turmoil shrank markets for Japanese products -- eating into the manufacturing sector that turned Japan into an economic superpower. The country's Nikkei stock index has been sliding all week due to the earnings reports and general jitters, and it dropped 2.2% more on Wednesday...