Business Aug 16, 2001

Koizumi facing rocky road to reform

Although calm has returned to the Tokyo stock market, share prices remain at a depressed level. The ruling coalition's victory in last month's Upper House election gave Prime Minister Junichiro Koizumi a mandate to push ahead with his economic reform initiative, but investors remain unconvinced. While ...

Business Apr 25, 2001

Yen, stocks begin rebound

Reflecting a shift in market sentiment, the yen has recouped much of its recent losses, while stocks and bonds have also reversed their recent downtrend and tended higher in recent weeks. There are signs that a key U.S. hedge fund has been busy unwinding its ...

Business Mar 28, 2001

100 trillion yen in stimulus yet to bear fruit

In a policy shift, the Bank of Japan has decided to give more weight to commercial banks' reserves in adjusting its monetary policy than to interest rates. At its March 19 policy-setting meeting, the BOJ decided to bring overnight interest rates effectively back to zero ...

Business Feb 23, 2001

Interest rate cut should be good for stocks

Interest rate cuts are typically a bullish scenario for share prices and, if not for the volatility on Wall Street and other unnerving developments both at home and abroad, the Tokyo stock market should have reacted positively to the Bank of Japan's latest move ...

Business Jan 25, 2001

Time for drastic reforms

The Tokyo stock market remains in a deep slump. With the end of the business year drawing near, the market is looking for clues as to how the government intends to help shore up share prices. A makeshift rescue will serve no one's interest, and efforts ...

Business Dec 20, 2000

Hope gleaned from 'tankan' doom, gloom

The Bank of Japan's latest quarterly survey of business sentiment has shed light on two important aspects of economic fundamentals. The "tankan," released Dec. 13, provided a gloomy assessment of the economic recovery while offering fresh evidence that Japan's major manufacturers remain committed to bold ...

Business Aug 24, 2000

State needs to publicize economic reality

When the Bank of Japan ended its 18-month-old "zero-interest-rate" policy it capped speculation over the controversial shift in monetary policy. Defying political pressure, the BOJ decided to tilt its policy toward guiding short-term interest rates higher. In doing so, the central bank has asserted its ...

Business Jun 23, 2000

Restructuring putting a damper on recovery

Recent economic reports indicate the nation has finally pulled itself out of a decade of doldrums. In retrospect, it appears the recession ended in the first half of 1999, with industrial production picking up. Capital investment has turned visibly higher in recent months, paced by ...

Business May 28, 2000

Ruling bloc's destiny foretold by market

The Tokyo stock market bottomed out in October 1998 and has since come a long way, moving past one major threshold after another. The uptrend, however, has run out of steam. Information technology stocks and other high-flying issues have come under severe selling pressure, sending the ...

Business Mar 24, 2000

Recovery difficult to judge from figures

Official figures released earlier this month gave a conflicting picture of the prospects for economic recovery. A quarterly Finance Ministry survey showed that nonfinancial companies posted a 41.8 percent year-on-year surge in pretax profits in the final quarter of 1999, the steepest gain in 20 ...