Japanese gloom deepens as shares hit 30-month low

Article Abstract:

Investors on the Tokyo Stock Exchange have marked down shares on the key Nikkei-225 index by 3.4% in response to predictions from the International Monetary Fund that the Japanese economy will only grow by up to 1.1% in 1998. The stock market has also been negatively affected by the Economic Planning Agency's decision to revise its economic estimates. The market has fallen considerably below the 15,000 barrier. Many analysts had forecast that it would not fall this low without finding buying support.

Management, Economic aspects, Japan, Tokyo Stock Exchange

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Renewed bear market fears as stocks plunge

Article Abstract:

Experts believe that slumps in stock markets worldwide are mainly attributable to concerns about currency devaluations in Asia. Share prices in Hong Kong fell to a five-year low, while all the leading European bourses declined and trading was suspended in Moscow, Russia. However, only a small number of analysts believe that the current stock market correction will become a sustained bear run, as the fundamentals are still sound.

Analysis

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