The Nikkei’s Losing Streak in Focus: No Plunge Protection Needed (EWJ)
Steven Towns (July 6th, 2008) Writes:
If you haven’t heard yet, then you probably will some point on Monday: Japan’s benchmark Nikkei 225 Stock Average closed in the red on Friday, marking its 12th consecutive decline, the longest since a 15-session losing streak in April-May 1954 during a time of “economic uncertainty” after the end of the Korean War.
However, the current losing streak is likely to end over the next day or two, as buyers emerge and tip the close into positive territory. No plunge protection team at work that we know of and largely unnecessary, because even though the Nikkei 225 has declined just over 8.5% during the losing streak, over half of the losses have been limited to double-digits, with most of those being very small in percentage terms. That said, we’re not expecting a strong bounce back, although maybe, perhaps a gradual one, since recovering even 14,500 remains a big hurdle.
Know that there’s ...
Tags for this Post:
Allum, Asset Managers, Current Market News, Decliners, Developed Markets, Dividend Yields, Economic Uncertainty, Hurdle, Japan, Kbc, Koombaya, Korean War, Losing Streak, Lows, New Highs, Nikkei 225, Old Faithful, Percentage Terms, Plunge Protection Team, Redemptions, Stock Average, Strategist, Technical Indicators
Allum, Asset Managers, Current Market News, Decliners, Developed Markets, Dividend Yields, Economic Uncertainty, Hurdle, Japan, Kbc, Koombaya, Korean War, Losing Streak, Lows, New Highs, Nikkei 225, Old Faithful, Percentage Terms, Plunge Protection Team, Redemptions, Stock Average, Strategist, Technical Indicators


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