Forum Archive Index - March 2001

["hugh webber" <hugh.webber@clear.net.nz>]

humph, sorry but as an economist I can't ignore this one....Japan is only
the world's 3rd largest
economy at best depending on valuations used of production in China and
India.
The EU (European Union) has a single currency (excluding the U.K.), it has
no barriers to trade within
it and has to rate as a single economy by definition. Japan rates a long
long way behind
the EU and at the rate its going backwards will be behind unified Germany
before too long 
if you still rated Germany as an independent economy. I wouldn't ascribe
far more 
importance to Japan than it actually possesses.
Its a common mistake repeated by ignorant journalists similar to the one
where they compare
the gross sales (output) of some large US corporation with the GDP (net
output) of
some country and say the corporation is a bigger economic animal when
they're simply
displaying their ignorance.
The Nikkei is a sick man like Japan and only follows the Dow except when
its artificially manipulated
as when the Japanese government orders Japanese financial institutions to
buy shares
which happens now and again. I wouldn't repose any hopes in Japan producing
the 5th
 cavalry to the rescue.
----------
> From: Mark Hubbard <mhubbard@es.co.nz>
> To: sharechat@sharechat.co.nz
> Subject: [sharechat] NIKKEI vs DOW
> Date: Wednesday, 21 March 2001 20:49
> 
> The Nikkei, bourse of the worlds second largest economy goes up over 900
> points in one day today (almost 8% increase, and its biggest one day rise
in
> three years) and the rest of the world markets ignore it. The Dow or
Nasdaq
> have a bad day, and the other markets all go down in sympathy (other than
> Japan).
> 
> Confusing ? (or not - I guess US is the powerhouse, and earnings outlook
> there still pretty bleak).
> 
> 
> (Still trying to extricate myself from some shares / funds to build that
> damned house. Talk about a timing muck up).
> 
> 
> 
>
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