Seeking Alpha

Nikkei in correction mode

  • Japan's Nikkei closes -2% and has entered correction territory, which is a fall of 10% or more from a recent peak.
  • The drop follows weakness on Wall Street on Friday and disappointing Chinese PMI data, and comes amid a strengthening yen but despite decent corporate earnings reports.
  • "It's important to note that fundamentals are not driving Japanese stocks lower — it's the fault of the weak overall investing environment," says asset manager Yoshihiro Okumura. "With valuations now steeply discounted and the market nearing its 200-day moving average, here would be a good place to buy."
  • Elsewhere in Asia, India's Sensex is -1.2%, while China and Hong Kong are closed for the Lunar New Year.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: