Nikkei Drops for Sixth Straight Day

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Friday, Japan's Nikkei 225 Index fell 1.19% for its sixth straight daily decline. Below we highlight prior losing streaks in the Nikkei 225 index since 2000. While Japanese investors may be getting more bullish thinking that their market is due for a gain, in the fourteen prior six day streaks, the Nikkei has risen on the seventh day only seven times for an average gain of 0.1%.

Over the next week, the returns are similarly random. While the index has risen slightly more than half the time (eight out of fourteen), the average return is negative.