Nikkei hits 1-mth closing low on yen, loss reports

* Nikkei down 4.8 percent for lowest close in a month
* Sony tumbles after loss prediction, Toshiba also hit
* Exporters slide as yen rises
* Reality of weak economy outweighs hopes for new U.S. govt (Adds USJ)

Market players said recent buying based on hopes for the administration of U.S. President-elect Barack Obama, which had underpinned a global rally in the New Year, had lost steam in the face of signs that the global economic situation remains dire.

"These worsening forecasts aren't just a Japanese event, we're seeing the same thing happen in the United States, and it's pushing the dollar lower against the yen," said Masayoshi Okamoto, head of dealing at Okasan Securities.

The benchmark Nikkei .N225 fell 422.89 points to 8,413.91, its lowest close since Dec. 12 and its third straight trading day of losses, the biggest losing streak since mid-November.

SOURCE

Well things seem to be getting worse again even with all the money being thrown at the problem. So what now?

Originally posted by orgyofthedead
Well things seem to be getting worse again even with all the money being thrown at the problem. So what now?

Change, just change.

I saw that on CNN business, usually the world markets have an effect on our markets. So far tomorrow (or should I say today) isn't looking very good for the US. Well that new bottom may come in after all. here we go again...

here it is, 2:00am est, on 13 jan 09,

Nikkei down 422.89 = (-) 4.7%, per Yahoo finance screen

Its remarkable, the US market goes up-&-down on news...
but seems to use the 8,500 DOW as it's 'home base',

i think that will contine all through 2009.





Side Issue:

but here's the good news -
on other threads we are told that as the Omega Point (2012) approaches,
that 'events' & cycles will be shortened, or in effect 'compressed'
as time & events 'speed up'
Which should result in the anticipated Depression II being severe but
very shortlived... lasting only a dozen or so months... instead of the
decades long recovery of the Markets in Depression I (1929-'52)

Stu .........you think the fed is going to "protect" that number?

Also i think the Fed's biggest TRICK/GOAL right now to avoid a deflationary trap is to TRY and ENGRAIN and sustain a BElief or expectation of future inflation (short term thru long term) preferrably at reasonably low levels.........Bernanke believes that this is what Japan Failed to do .........because one can't Force consumers to take money and spend /consume it.........(especially when they believe that saving money and waiting for prices to drop further is wise!!!!) this is the fed's real dilemma and they will utilize the gov't (and the media) to avoid the D(flation) word







[edit on 13-1-2009 by cpdaman]