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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up?

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From: Julius Wong10/5/2005 7:08:48 AM
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Japanese Markets: Will The Euphoria Last?
Wednesday October 5, 2:13 am ET
By Jonathan Bernstein, ETFzone Trading Specialist

The bulls are running in Tokyo. Over the last six weeks, the ETF that tracks the broad Japanese market, the iShares MSCI Japan Index (AMEX:EWJ - News), is up 15%. The rally in Japan started inauspiciously, with the defeat of Prime Minister Junichiro Koizumi's bill to reform the Japanese post office. Upon his defeat, Koizumi gambled that he could sidestep the politicians and take his agenda directly to the public. He was right. The public came out in support of reform, and the financial markets went wild. The chart below compares the return's of Japan's EWJ with the U.S. domestic benchmark Standard and Poor's Depositary Receipts (AMEX:SPY - News).

biz.yahoo.com
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