Economy / Japan
If you would like to subscribe to Emerging Markets Monitor and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Emerging Markets Monitor please click on the trial link below.
Nikkei Heading For 25-Year Low
October 2008 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Emerging Markets Monitor and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Emerging Markets Monitor please click on the trial link below.
Japan's Nikkei 225 Index appears to be heading for its lowest level in 25 years after plunging by a further 9.62% on Friday, October 10. The market closed at a five-year low of 8,276.43 after experiencing its worst week in history, and now faces major support in the 7,800-8,000 area. We believe that the negative sentiment pervading global equities will drive the Nikkei below its 20-year low of 7,600 seen in early 2003.