Word: nikkei
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...soon come tumbling down. Never far from bearish minds is the 1987 crash, which saw the Dow Jones industrial average plunge 508 points on Black Monday. Even more frightening was the more recent, and more devastating, collapse of the Japanese stock market that began in 1990, when the bloated Nikkei average plummeted from nearly 39,000 to less than 15,000 in 2 1/2 years. Then there are recollections of the Great Crash itself, which have become part of America's memory. "People start thinking of the '20s and '30s," says author and retired fund manager Peter Lynch, "and almost...
Investors quickly voted with their money to support the plan. The Nikkei stock average soared even before the details were announced, closing the week at 17,970.79 points, an 11% gain. But most economists remain skeptical. Said one: "The Nikkei is just being deceived. There remains a lot of uncertainty about what results the package will bring...
...dollar was stumbling, the Japanese stock market was practically falling on its face. The Nikkei Index dropped to 14,309, its lowest level since 1986, forcing the government to take action. The Finance Ministry announced new rules to discourage banks from dumping shares, which brought at least a temporary recovery. But critics said long-promised government spending programs are needed to make the recovery permanent...
...markets, which have plummeted 30% since January, staged a brief comeback Thursday. They were encouraged by the launching of the new Securities and Exchange Surveillance Commission, Japan's first regulatory agency for stock exchanges, and the news that Japanese Premier Kiichi Miyazawa would convene a special Cabinet session. The Nikkei resumed its steep downward slide Friday, however, after Finance Minister Tsutomu Hata said it would be difficult to bolster the market. Business leaders have urged the government to take steps to prop up the market. Miyazawa, however, is banking on a supplementary budget to stimulate the economy, but few economists...
CAPTION: Japan's Nikkei Index...