MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Japanese Govt Targets Nikkei 13K by End of March

scott
edited February 2013 in Fund Discussions
So now the Japanese govt is targeting stock market levels. I remain long Japanese equities, not on a fundamental basis but on the basis of if they are going to try for monetary lunacy in an attempt to fix all their problems (and what they're doing really doesn't fix any of their major underlying problems), I'm happy to follow along.

http://seekingalpha.com/currents/post/817881

Forget inflation targets, Japan now has a stock market target and it's Nikkei 13K by the end of...
Monday, February 11, 9:45 AM ET
Forget inflation targets, Japan now has a stock market target and it's Nikkei 13K by the end of March, according to Economy and Finance minster Akira Amari. If Japan has its own David Tepper, we're pretty sure we know what he's doing. Tokyo was closed overnight, but DXJ gains 1.2%. The yen slides, FXY -0.6%.

___________________________

4:52 PM A big move late in the yen (FXY -1.2% in regular trade, -0.6% AH) takes the currency to its weakest vs. the dollar in more than 2 years, the greenback now buying ¥94.32. The hedged Japan equity fund (DXJ) nods in approval, +2.4%. The Nikkei was closed Monday, but look for fireworks tonight. Earlier: The government drops all pretense and calls for Nikkei 13K by March 31. [Global & FX, On the Move] Comment!

Comments

  • InvestorInvestor
    Lip service. The question is if there is actually a solid policy behind it.

    This finance minister is talking too much. The other he made a comment dollar yen exchange rate and soon after retracted.
  • clacy
    If CB's start targeting stock market returns...... it will end badly.
  • hank
    Reply to @clacy: Japan's already been to "badly" - couple decades of it. Right now they're basically burning the furniture to try and heat the house.
Sign In or Register to comment.