Nikkei enters bear market as stocks dive 6.35%

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  • 0

    mr_jgb

    Low SQ settlement for Nikkei tomorrow; Fierce selling and stop-losses for SQ.

  • 1

    some14some

    little better than j-posters' expecations...make Abenomics fans feel happy (Media only?)

  • 1

    gaijinfo

    It was fun while it lasted, Abe-san. For a while there you actually got to pretend you could sit and the adult table.

  • 1

    BurakuminDes

    Interesting quote I read from an analyst today: "A few more weeks like this and Abe will have to start working on his resume".

  • 1

    edojin

    Okay ... the dollar is retreating from its 100 yen to the $1 level. Prices on many products shot up when the 100 level was attained . Now, are these prices going to drop to their previous levels? We all know the answer to that: No. Once they go up ... they usually stay up ... awaiting the next round of price increases.

    It appears that Abenomics is screwing up everything around.

    Is a hyperinflation side effect in the making? I sure hope not.

    Abenomics ... that is gradually becoming a profane word ...

  • 1

    NipponMarketBlog

    Looks like the market is giving Abenomics the thumbs down....

    http://nipponmarketblog.wordpress.com/

  • 4

    Serrano

    Idiots are screwing with my money!

  • 0

    Wakarimasen

    “We have seen such wild fluctuations lately that few investors want to press on with buying,” said Hirokazu Kabeya, senior strategist at Daiwa Securities.

    “It’s a kind of a chicken-and-egg situation—volatile markets keep buyers away and the absence of buyers leads to market volatility. We are trapped in a negative spiral right now.”

    Surely absence of buyers leads to market declines?

  • 1

    some14some

    so both Nikkei and Yen were in better position before Abe and Kuroda announced ultra easy monetary policy under Abenomics ?

  • 2

    randomman

    Global markets including the Nikkei225 and the USD/yen peaked on May22nd, the day Bernanke opened his mouth and suggested the end of QE3, so rather than blame Abe who has only been in office for only 6 months its more apt to blame the FED. The All Ordinaries and the Straits Times dipped into negative territory today with hedge funds dumping asian assets like no tomorrow; the Nikkei 225 was the worst performer but still up 20% year to date. The FED meeting next week is the next "fear event", heaven help the markets if there is any further suggestion of a close to QE3.

    A more realistic measure of Abenomics effectiveness is corporate earnings over the next 24 months and if they don't improve then I will join Kyle Bass and buy JGB credit default swaps and make a bid on a deserted island far away from Japan.

  • -3

    JeffLee

    The Abenomics cynics dismissed the Nikkei when it was climbing, calling it hot air. Now that it's crashing, they're pointing to it as solid proof they were right. Hello?

    The real economy is still holding up. 3.5 percent growth ain't bad.

  • -3

    mr_jgb

    randoman is right the FED "tapering" talk was the main culprit for markets sell-off.

    Japan will see 2 to 3 years of likely strong GDP from Abenomics with record earnings from exporters.

  • 1

    JeanValJean

    Dog, good post. Except, I think the Nikkei will fall below where it was Nov 2012. I don't think the economy will come to a halt, but it may well ground down to a snail's pace. Best to minimize one's bank exposure. Diversify and internationalize BEFORE the capital controls come.

  • -3

    mr_jgb

    Japanese exporters are smart in not wanting to increase foreign market share, but maintain same price and sales volume. In this way weak Yen will not provoke currency war & protectionism against Japan, but foreign sales earnings translated to Yen will be a very big booster to bottom line profits.

  • 1

    NipponMarketBlog

    With perfect market timing, you could have made 35% on the round trip in the Nikkei 225 over the past 2 months. However, I don't believe this is what Abe and Kuroda had in mind when they initiated Abenomics and QE:

    http://nipponmarketblog.wordpress.com/2013/06/12/the-35-nikkei-225-round-trip-there-and-back-again/

  • 0

    globalwatcher

    However, I don't believe this is what Abe and Kuroda had in mind when they initiated Abenomics and QE:

    The world financial institutions are all pre programmed and computerized. The world market moves with no emotion and moral. That's a new reality and it is very sad.

  • -1

    kurisupisu

    Abemomics is no more than the crony politicians giving favours to their friends in Japan Inc Well,it's gonna fail-BIG TIME! When interest rates on Abe's loans become due then the Japanese QE to date will seem like chump change!

    And the yen will become worthless .....

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