Moribund Japan
Article Abstract:
The Japanese stock market was the largest world wide from 1987 to 1991 but has shrunk to 23% of the size of the US market, notes Peter Tasker from Dresdner Kleinwort Benson. A drop in markets elsewhere would affect the Japanese market, and a drop in the value of the US dollar would lead to debt deflation in Japan. Japanese stock prices are still not cheap despite a bear market. Companies are still too keen to expand rather than consider stockholder value. Corporate change should be promoted by the government, which has tended to intervene too much.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Japan: seeing is believing
Article Abstract:
Overseas investors see an election victory for the Japanese Liberal Democratic party (LDP) in Oct 1996 as likely to lead to changes in policy which could benefit the stock market. Share prices have risen in expectation of an LDP victory, but Japanese investors are less optimistic that such a victory would bring about change. Alexander Kinmont from Morgan Stanley sees major changes such as deregulation as unlikely, though tighter fiscal policies may allow monetary policy to remain loose.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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