Don:
There is a fear of global recession and competitive devaluation of currencies in US and Europe. Ideally, the US policymakers want the stocks to down, albeit slowly, and the Japanese want their stocks to go up. Overseas investors are pouring their money into US$, bonds and stocks (helping the stocks here) out of panic elsewhere and euphoria here. The fear is that the herd can/will change the direction, e.g., to Asia. If it happens suddenly, there will be a "very rapid decline in US asset values," as Greenspan cautioned. [US$, stocks, and bonds will fall].
Tokyo Stock Exchange lists other indices.
Good luck in your investment.
Sankar |
