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oldschool said:This announcement triggered a rush of selling as investors desperately tried to close positions as soon as possible
bkrownd said:This is interesting, because it suggests prices are being artificially manipulated (depressed it would seem) by a factor other than their natural value.
IIRC Japanese people are gunshy on their native stocks after the 90's, creating more opportunity for the rest of us to jump in while the getting is good.
Ichiro said:I am glad that I got out of the I fund on 17 Jan 05. When I saw the Japanese government officals entering the Livedoor Main Office recently I knew that the Nikkei will drop substantially the next day. Here I am in Japan watching the Japanese securities news and they said that this slide in the Nikkei will continue for a few more days. There is a major panic among the new Japanese investors who are bailing out of the market at any cost. I guess the new investors did not realize that stocks may increase in price but there is always the risk that it will fall. As Tom said earlier the market needed a good reason for a major correction. I would not be surprised if the Nikkei drops another five percent. In a few days, once the market settles I will buy the I fund again.
Ichiro said:Well, folks, the Japanese Market was down 2.12% today and it is also dragged down the other asian markets as well. It will probably be down the whole week since the President of Livedoor will be questioned by the authorities this week. This will be very negative for the Japanese stock market but it will be good for the market in the long run. The Japanese media sure makes the Livedoor issue worst than it is which is causing a major panic in the Japanese stock market. I am just glad that I made most of my $$$ over the past 20 years by investing through the dividend reinvestment program of conservative US companies..