The recent rally in global equity markets has thrown up some interesting anomalies, with the Nikke...
The recent rally in global equity markets has thrown up some interesting anomalies, with the Nikkei up significantly less than the major US and UK indices since the start of March this year. Earlier this year, the Nikkei fell to a 20- year low and for several weeks traded below its 44 year moving average. The Japanese market had fallen by a similar amount in the months immediately before the war in Iraq and also since the bursting of the Nasdaq bubble and subsequent recession in the US in 2000/2001. Being a net oil importer, Japan was and is, admittedly, very vulnerable to the pros...
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