Political uncertainty saps confidence
Article Abstract:
Statistics show a positive trend in the performance of major stock markets in Europe and the Far East. The German Dax index has risen 9.5% since the start of 1992, while the French stock market has risen 11% despite high interest rates and a strict monetary policy. The Hong Kong stock market has risen 17.3% while the Malaysia and Thailand stock markets also performed well. On the other hand, the Italian stock market rose only 0.7% as a result of political factors. Meanwhile, the Tokyo stock market dropped 3.6% due to political scandal. The general rise in market indices is an indication of US economic recovery and the strengthening of the dollar.
Publication Name: Public Finance and Accountancy
Subject: Business
ISSN: 0305-9014
Year: 1992
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Fluctuations in rates dominate dying year
Article Abstract:
Lower interest rates affected the American and Japanese stock market performances towards the end of 1991. Rates in European markets, however, showed upward trends. In Japan, falling interest rates led to the daily gain record of 4.8% in Dec and 23% decrease in turnover for 1991. The Bundesbank increased the Lombard rates to 9.75% while the Bank of Italy raised the discount rate by .5%. France has followed the trend to prevent inflation and devaluation. In spite of contrasting interest rates movements, these stock markets registered higher trading indices at the start of 1992.
Publication Name: Public Finance and Accountancy
Subject: Business
ISSN: 0305-9014
Year: 1992
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Continental Europe's balancing act
Article Abstract:
Investment decisions and portfolio management of stocks for a particular company is usually based on an analysis of that company's management, balance sheets, business environment and potential. This technique, however, cannot apply to investment in European companies because of the dimensions involved. Investing in European companies requires not only country split and stock specific analyses but a portfolio analysis based on country and sectoral indices such as the MSCI Europe and FTA Europe indices. This technique may minimize risk and maximize returns on individual shares.
Publication Name: Public Finance and Accountancy
Subject: Business
ISSN: 0305-9014
Year: 1992
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