Word: nikkei
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...appreciation of the yen slashes Japan's GDP growth rate by 0.3% to 0.4% points, says Masafumi Yamamoto, head of foreign exchange strategy for Japan at Royal Bank of Scotland. "Yen appreciation is also causing the Nikkei [stock index] plunge," he says. And that's affecting the confidence of Japan's businesses. On Monday, figures of the Bank of Japan's tankan survey, a quarterly survey of business sentiment in Japan, fell to a seven-year low. The tankan figure showed the steepest quarter over quarter decline in 34 years. The economy is expected to decline 0.8% for the fiscal...
...Japan's minister for economy, trade and industry, Kaoru Yosano, summed it up on Monday when he said, "Japan is in a very serious situation." Last month, as the nation's export-driven economy watched global demand slow down, Japan's Nikkei index fell to a 26-year low. Couple this with the appreciation of the yen - which some economists say could strengthen to an exchange rate of 80 to the dollar by the end of next year - and it's little wonder that corporate powerhouses like Toyota, Honda and Sony have seen profits dive. Royal Bank of Scotland Japan...
...nearly 4% during Friday trading, London's FTSE 100 index closed up 1.5%, while Frankfurt's Dax and Paris' CAC 40 ended the week up by 1.3% and 0.67% respectively. In the wake of Wall Street's 6.7% gain Thursday, Asian markets also largely advance Friday, with Tokyo's Nikkei closing 2.7% higher, and Hong Kong's Hang Seng finishing 2.4% stronger. Given the macro-economic moroseness, what's with the market giggles...
...would dilute banks' earnings per-share, compounding investor worry that the appreciation of the yen will further reduce share value and corporate profits. Mitsubishi UFJ, like Japan's other mega-banks, avoided damage caused by the subprime crisis, but its stock portfolio is now taking a hit as the Nikkei and Tokyo Stock Price Index (Topix) continue to fall and wipe value from its balance sheet. One credit analyst estimates that since the end of June, the total stock value held by the top three banks has dropped by $56 billion, signaling that other banks are clearly at risk...
...worked to reduce their shareholdings, but economists and bank analysts have mixed views on just how much exposure banks now have to stock price movement. Hironari Nozaki, a bank analyst at Nikko Citigroup, says that mega-banks should be stable even if the Topix plummets to 600 or the Nikkei 5,500. (they closed Monday at 746 and 7,162 respectively). "But," he says, "I don't want to imagine that situation...