Government to intervene in stock prices

Maciamo · Mar 10, 2003, 17:11

The Japanese Government has warned it might intervene in the stock market after the Nikkei 225 share index fell below 8,000 for the first time in 20 years.

The Nikkei fell to 7,975.4 before recovering to close at 8,042.26 points, down 101.86 points, or 1.25% from Friday.

The fall has been blamed on Japan's banking sector, which is beset by bad debts and has decided to issue new shares to raise capital.

On the weekend, Financial Services and Economy Minister Heizo Takenaka called on the Bank of Japan to buy shares, land and investment funds if the market continued to fall.

Government officials have also said it is prepared to intervene in the currency markets to prop up the US dollar.

Why not false the market a bit further... Anyway, Japanese prices are so artificial. Everything from gas to melon prices is set by big corporations lobbies working hand to hand with gov. officials.

thomas · Mar 10, 2003, 17:50

Nikkei time-warped back to 1983. In all fairness, the same applied to other international stock exchanges during the past few days.

Japan business head says economy in critical state

The chairman of Japan's biggest business lobby said on Monday that the country's economy was in a critical state due to falls in stock prices and urged the government and the Bank of Japan to take action.

=> http://www.forbes.com/markets/newswi...rtr901645.html

BOJ was "urged to intervene..."

Mar 10, 2003, 17:11	#1
Maciamo Decommissioned ex-admin Join Date: Jul 17, 2002 Location: Austrasia Posts: 6,647	Government to intervene in stock prices BBC News :Nikkei slides below 8,000 The Japanese Government has warned it might intervene in the stock market after the Nikkei 225 share index fell below 8,000 for the first time in 20 years. The Nikkei fell to 7,975.4 before recovering to close at 8,042.26 points, down 101.86 points, or 1.25% from Friday. The fall has been blamed on Japan's banking sector, which is beset by bad debts and has decided to issue new shares to raise capital. On the weekend, Financial Services and Economy Minister Heizo Takenaka called on the Bank of Japan to buy shares, land and investment funds if the market continued to fall. Government officials have also said it is prepared to intervene in the currency markets to prop up the US dollar. Why not false the market a bit further... Anyway, Japanese prices are so artificial. Everything from gas to melon prices is set by big corporations lobbies working hand to hand with gov. officials. __________________ Over 100 destinations in the Japan Sightseeing Guide + detailed Tokyo Guide and Kyoto Guide Eupedia : Your Guide to Europe in English Read the "Maciamo FAQ" "What is the use of living, if it be not to strive for noble causes and to make this muddled world a better place for those who will live in it after we are gone?", Winston Churchill.

Mar 10, 2003, 17:50	#2
thomas Decommissioned ex-admin Join Date: Mar 14, 2002 Posts: 4,209	Nikkei time-warped back to 1983. In all fairness, the same applied to other international stock exchanges during the past few days. Japan business head says economy in critical state The chairman of Japan's biggest business lobby said on Monday that the country's economy was in a critical state due to falls in stock prices and urged the government and the Bank of Japan to take action. => http://www.forbes.com/markets/newswi...rtr901645.html BOJ was "urged to intervene..." __________________ Remember what the dormouse said, feed your head, feed your head!

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