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Article: Japan's stock market languishes Since record high seven years ago, Nikkei index has lost half its value
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- January 26, 1997
- Author:
CopyrightCopyright 1997 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Giddy American investors flush with stock profits don't have to
peer into a crystal ball to find out what a bear market looks like.
All they need to do is look at Japan.
It was a little more than seven years ago that the Nikkei stock
index, Japan's version of the Dow Jones industrial average, hit a
record high of 38,915 points.
"The dominant view in the stock market is optimistic," the Asahi
newspaper reported at the end of 1989. "Players see the momentum
continuing in the new year, and the index reaching 45,000 by the end
of next year."
That never happened.
The Nikkei started plummeting in January 1990, and it didn't stop
until it had lost 63% of its value by August 1992. Even worse, the ...