The Nikkei is outpacing gains on Wall Street.
Published:
30 December 1999 y., Thursday
After nine years of sluggish economic growth, the stock market here is outpacing this year_s rise in the Dow Jones Industrial Average. Investors are betting that Japan is back to doing what it does best: playing catch-up with the West, this time by embracing new industries tied to the Internet and modernizing old ones such as finance and banking.
With two more trading days left in 1999, the Nikkei benchmark average is up 36% so far this year. The broader Topix index, which many observers argue is far more representative of the market these days than the Nikkei, broke through the 1700 level for the first time in 42 months yesterday, closing at 1701, up 57% this year. That compares with the almost 28% rise in the Dow Jones Industrial Average so far this year, though it is well below the 81% gain in the Nasdaq. The seeds of this surprising rally were sown by two events 14 months ago, when the Nikkei stock average was sagging near 12-year lows and many thought Japan_s banking system might founder, tipping the economy into depression.
Šaltinis:
Internet
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An aviation agreement has been signed today by the European Union and the Vietnamese authorities which will remove nationality restrictions in the bilateral air services agreements between EU Member States and Vietnam.
more »
The European Investment Bank marked the 50th anniversary of the Republic of Cyprus and its 30 years of activity in the country with a public ceremony celebrating the signature of a total of EUR 180 million for urban environment.
more »
In response to the financial crisis, the Commission has put forward legislative proposals to strengthen and expand existing tools for coordinating economic and fiscal policy in the EU.
more »
In the first meeting of the SME Finance Forum, possible means to improve the current situation of access to finance were discussed, such as the introduction of a grace period for firms in difficulties, the involvement of credit mediators and improved loan guarantees.
more »
The EU budget is no simple matter, but then no budget ever is.
more »
Parliament will be crucial in avoiding a “lowest common denominator” approach when helping to design the EU's new economic governance architecture, ECB president Jean-Claude Trichet told the Economic and Monetary Affairs Committee on Monday.
more »
With a multitude of language-related events taking place on or around 26 September, the main themes for this year's European Day of Languages are business and jobs.
more »
The EU disbursed today € 1.15 billion to Romania, the third instalment of a € 5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »
The European Investment Bank has agreed to lend GBP250 million for the replacement, reinforcement and expansion of the gas distribution networks operated by Scotland Gas Networks and Southern Gas Networks.
more »
The bargaining positions of all players in the human food chain must be rebalanced, and fair competition enforced by law, to ensure fair returns to farmers and price transparency to consumers, says Parliament in a resolution voted on Tuesday.
more »