Archive | October 24, 2008

Painful reality as deleveraging brings another perfect storm to Japan

By on October 24, 2008 in Market Summary, Sentiment

Heavy selling on Friday in Tokyo almost pushed the benchmark Nikkei 225 to its lowest post-bubble close (-9.6% to 7,649 vs. 7,607 set on April 28, 2003). And that’s not all: extended trading of N225 futures in Osaka brought a record session low of 7,100, representing another 520 points to the downside. Sony (JP: 6758) [...]

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