Business | TAKING STOCK Jul 23, 2002

Japan's reliance on U.S. must end

by Yasuo Ueki

Tokyo stocks remain weak in response to falls in U.S. stocks and the dollar's value resulting from the shaken belief in the U.S. that everything should be left to the market. While this belief helped the U.S. economy enjoy long-lasting prosperity in the 1990s, its ...

Business | TAKING STOCK Jun 25, 2002

U.S. rebound to pace stocks

by Yasushi Morikawa

The recent weakness of Tokyo stocks has created a golden opportunity to buy shares despite growing concerns about worldwide price falls. U.S. companies, especially internationally active high-tech firms, are revising their earnings forecasts downward for the second half of this year, indicating the U.S. economic ...

Business | TAKING STOCK May 28, 2002

Factors point to June stock market surge

by Hiroyuki Wada

The Tokyo stock market will probably strengthen in June because surrounding conditions are improving. The economy is showing clear signs of a recovery. For example, the industrial production index for the first quarter climbed over a year earlier and the diffusion index of coincident indicators for ...

Business | TAKING STOCK May 14, 2002

Tokyo market has lots of room to recover

by Yasuo Ueki

The benchmark Nikkei average has been moving between 11,000 and 12,000 for nearly two months in the absence of strong incentives to drive the market either up or down. It is noteworthy that Japanese and U.S. stocks no longer move in tandem. When U.S. stocks fell ...

Business | TAKING STOCK May 8, 2002

Time for caution, not imprudent optimism

by Eiji Arima

After holding out for some time against market adjustments in the United States and Europe, Tokyo stock prices fell broadly Tuesday amid fears of contagion from this week's tumble in New York share prices. Bullish investors had counted on an economic recovery, improving corporate earnings ...

Business | TAKING STOCK Apr 23, 2002

Spring to see stocks bloom

by Hiroyuki Wada

Tokyo stocks are expected to firm in May and June, counting on favorable economic and corporate earnings prospects. The combined pretax profits of nonfinancial firms will jump more than 55 percent in fiscal 2002 in a turnaround from a fall of over 40 percent a ...

Business | TAKING STOCK Apr 16, 2002

Factors point to bumpy ride

by Yasushi Morikawa

The key Nikkei average appears likely to reclaim the 12,000 level in the coming months, given Asia's V-shaped economic recovery and signs that the global silicon cycle is about to enter a new phase. Attention is shifting to cyclical issues, including those related to exports, ...

Business | TAKING STOCK Apr 9, 2002

Stocks look good but watch the foreigners

by Yasuo Ueki

Tokyo stocks have been on the rise since bottoming out on Feb. 6. The market took a breather in early March, when investors were concerned over the so-called March financial crisis, only to resume seeking its upside with the beginning of the new financial year. Before ...

Business | TAKING STOCK Apr 2, 2002

Strong start doesn't ease fears

by Eiji Arima

The Tokyo stock market rang in the new fiscal year on a positive note Monday, ignoring worries about the underlying economic reality. An increasing number of market participants are turning bullish, reacting positively to the recent government package of measures to fight deflation. Indeed, with worries ...

Business | TAKING STOCK Mar 26, 2002

For Tokyo shares, the worst may be over

by Norimitsu Otsubo

Tokyo share purchases are expected to increase on the back of an improved supply and demand balance and rapidly growing expectations of a recovery in Japan's economic fundamentals. The prospect is supported by technical trends, although there remain structural risks, including the bad-loan mess. Stock prices ...

Business | TAKING STOCK Mar 19, 2002

Rally not just down to technical factors

by Hiroyuki Wada

Having slumped to 9,420.85 on Feb. 6, the 225-issue Nikkei average has been hovering around 12,000 in recent days. The rally was fueled by the government's antideflation package -- and its move to tighten controls on short sales in particular. The package reflects the government's determination ...