We don’t write much about Japan in our weekly commentaries, because quite honestly, in most weeks there are other, more important things going on in global capital markets that we believe merit our attention. Every now and then, however, a story
Toshiba And The Fragility Of Nikkei 30,000
Summary
- “Stocks always go up in the long run” is not a universal law. To this very day, the Nikkei 225 languishes some 25 percent below its all-time high reached at the end of 1989.
- In April, two things happened of note: the Nikkei 225 crossed the 30,000 level for the first time since 1990, and Toshiba chief executive officer Nobuaki Kurumatani abruptly resigned from office.
- Long-suffering Japanese investors cheered the Nikkei news, but the Toshiba developments suggested how fragile the recent bullish sentiment might be.
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