Altes Elliott-Wellen-Forum - Tokyo Stocks Soar More Than 7 Pct. (Kurzartikel)

Tokyo Stocks Soar More Than 7 Pct. (Kurzartikel)

verfasst von Sascha, 21.03.2001, 09:17

Tokyo Stocks Soar More Than 7 Pct.

Wednesday March 21, 2:07 am Eastern Time

TOKYO (AP) -- Japanese stocks rocketed higher Wednesday amid speculation that the government bought shares to boost the market. The dollar was lower against the yen.

The benchmark 225-issue Nikkei Stock Average rebounded from a morning sell-off to close up 912.97 points, or 7.49 percent, to 13,103.94. It was the index's seventh largest one-day percentage point gain. On Monday, the average closed down 42.01 points, or 0.34 percent.

The dollar bought 122.92 yen at 3 p.m. (1 a.m. EST), down 0.44 yen from late Monday in Tokyo but above its late New York level of 122.13 yen overnight.

Financial markets in Tokyo were closed Tuesday for a national holiday.

On the stock market, the Nikkei index opened weaker on disappointment that the U.S. Federal Reserve Board decided overnight on a smaller than expected cut in interest rates.

But stocks rebounded by midmorning, rising steadily throughout the day as talk swept through the market that the government had stepped in to prop up share prices, which last week hit a 16-year low.

The government often intervenes in the stock market to lift share prices as the March 31 fiscal year-end nears. The practice is meant to aid debt ridden Japanese banks and companies by limiting their losses on securities holdings. [Anmerkung: gezielte Manipulation!!!]

It was also the first day of trading since the Bank of Japan's move to revive its zero interest rate policy Monday evening, and many investors cheered the central bank's decision as necessary to ward off a recession.

On Tuesday, U.S. stocks finished lower on selling by investors, who were disappointed by a half point interest rate cut by the Federal Reserve. The Fed acted to try to keep the U.S. economy from slipping into negative growth.

On Wall Street, many investors who had hoped for a 0.75 percentage point cut began selling off their stocks, sending the Nasdaq composite index down 93.74 to 1,857.44. The Dow Jones industrial average fell 238.35 to close at 9,720.76.

Lower rates would help the economy by making it less expensive for consumers to borrow money to pay for expensive items such as cars, while giving companies more incentive to purchase new machine tools and other equipment.

The broader Tokyo Stock Price Index of all issues listed on the first section finished up 75.80 points, or 6.32 percent, to 1,275.41 Wednesday. The TOPIX closed up 2.14 points, or 0.18 percent, on Monday.

In currency dealings, the dollar fell against the yen following the Fed's rate cut and the gains in Japanese shares.

Lower interest rates, which lead to smaller returns on investments such as bonds, usually make a country's currency less attractive to investors.

In other currencies, the euro was traded at 111.72 yen, up from 110.32 yen late Monday in Tokyo.

The yield on the benchmark 10-year Japanese government bond fell to 1.0400 percent from Monday's finish of 1.1400 percent. Its price rose 0.92 point to 103.25.

Quelle: AP

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gesamter Thread:

Was bitte war genau in Japan los? - BossCube, 21.03.2001, 08:32
- Re: Was bitte war genau in Japan los? - Sascha, 21.03.2001, 08:47
  - Hallo Sascha, man sollte glatt Puts kaufen! oT. - BossCube, 21.03.2001, 08:53
    - Stimmt! Bei diesem Stand sind die viel zu hoch bewertet owT - Sascha, 21.03.2001, 08:55
      - Despite Worries Tokyo Shares Rally - Sascha, 21.03.2001, 09:07
      - Tokyo Stocks Soar More Than 7 Pct. (Kurzartikel) - Sascha, 21.03.2001, 09:17
  - Re: Was bitte war genau in Japan los? - Puts Kauf - Black Jack, 21.03.2001, 09:02
- frama weiss was gescheites dazu zu sagen (link) (owT) - Henning, 21.03.2001, 09:25
  - frama weiss was gescheites dazu zu sagen (link) / Das ist auch interessant - Sascha, 21.03.2001, 09:48
    - Das ist auch interessant - Henning, 21.03.2001, 09:53
- Re: Was bitte war genau in Japan los? - Cujo, 21.03.2001, 10:16