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Nikkei average falls for tenth straight day, first time since…

July 2, 2008
By Ken Worsley


The Nikkei just closed this afternoon at 13,286.37 - down 176.83 points. Today was the tenth consecutive trading day to finish at a loss. When was the last time the Nikkei declined for ten straight days? February 1965.

The shipping, automotive, machinery and insurance industries all felt the sting of decline. Now it’s time to see if the dollar can hold above that 105 position against the yen…

Filed Under Equity Markets, Nikkei 

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Comments

9 Responses to “Nikkei average falls for tenth straight day, first time since…”

  1. David on July 4th, 2008 10:32 am

    11 days … and counting

  2. Ken Worsley on July 4th, 2008 4:21 pm

    12 days now. First time since 1954. Any connection to the crumbling of the 1955 system?

  3. Yuta on July 5th, 2008 7:53 pm

    Japan is dying a demographic death. It has no leadership, and no plan to counter its diminishing role in Asia.

    This decline is only a small sign of the disgust with the rot within. Leadership is needed, but can’t be found at recruiting firms.

  4. Ken Worsley on July 5th, 2008 10:15 pm

    Yuta, I’m not totally sure what you’re getting at. Do you have any concrete examples to show?

  5. Contrarian on July 7th, 2008 10:14 am

    Ken: I’m curious about your last sentence in the post. Do you expect the dollar to break here?

    I have a hard time believing the BOJ will let it break down again. Of course, I didn’t think that Trichet had the stones to raise rates.

  6. Contrarian on July 7th, 2008 10:51 am

    Will it make 13? Nikkei 225 down a little; Topix practically flat (down less than a basis point). Wow.

  7. Ken Worsley on July 7th, 2008 11:46 am

    Contrarian: can’t say publicly what I expect.

    I heard a theory predicting a 13th day lower if Nadal won Wimbledon. Looking very doubtful now.

  8. Changes on September 15th, 2008 11:53 am

    With all the chaos on Wall Street, Japan’s markets are in for a rough Tuesday. Good thing they’re closed today.

  9. Ken Worsley on September 15th, 2008 4:32 pm

    Good point. I will get something up about that later.

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