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Alternative Market Briefing

A bad week for Japan

Friday, June 14, 2013

Benedicte Gravrand, Opalesque Geneva: - The Japanese stock market got inflated by 80% in six months following Shinzo Abe’s appointment as Prime Minister in December 2012. Indeed, Abe almost immediately launched monetary policy, fiscal policy and economic growth strategies (two points of a three-point (or "arrow") economic plan) that are now known as "Abenomics." Abenomics led to a weaker yen and some inflation and economic growth, and hedge funds and other investors cashed in (Opalesque article).

But in the last three weeks, the Japan stock market has been steadily going down amid a general sell-off.

Stock market The Nikkei 225 index, which is currently up 23% YTD, and up 51% in the last 12 months, went from 13,514 on Monday to 12,445 on Thursday - a drop of almost 8%. It has slightly recovered today (Friday) with +1.9%. The index has been going down and up, but mostly down from its peak of 15,627 on 22nd May. It is now in bear market territory.

As for the Tokyo Stock Exchange Tokyo Price Index (TOPIX), which is up 24% YTD and up almost 49% in the last 12 months, it also started to dive after a 22nd May high of 1,276. It dropped from 1......................

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