Advertisement

TOKYO STOCK MARKET BLUES

Share

The Tokyo stock market took a roller-coaster ride last week after starting a slide on Nov. 13 that broke a two-decade-long record for the number of consecutive declines. The market remains in a deep slump, reflecting investors wariness about the Japanese economy which is suffering from a slower rate of growth, declining corporate profits and rising bankruptcies. On Friday, the 225-issue Nikkei stock average closed down 14.11 points at 22,441.06--well below its 25,222 high in late October--with market analysts feeling secure that the market would not fall through the crucial 22,000 point at which the government would be expected to intervene. But few expected the market to rise significantly this week pending settlement of futures contracts.

Advertisement