>> "They have been using these funds to prop it up for six months now"
William, I certainly don't doubt your wrong, but can you or anyone else point me to an article or reference concerning this. <<
Mike - I've been following the daily commentary from Bridge News service re: the Japanese equity and debt markets. I believe them to be a very authoritative source , similar to Bloomberg. From December on , the daily info re: the stock market has made numerous mention of the pension money coming into the market. As a matter of fact , it seems to happen every time the Nikkei brushes 15,000.
Often they give direct quotes from officers and directors of the big three or four trading houses over there , regarding pension fund buying.
There were even official announcements from MOF that "price-keeping operations" would be continued , if necessary. I have printouts of this stuff , if you're interested. Several major magazines , such as the Economist , Barron's etc have reported it as well.
Whether any of this is archived on the net or not , I don't know , but it can certainly be verified. Send me a private message with your address , and I'll shoot you a few copies in the mail over the weekend.
To keep up with it on a daily basis , I'd refer you to the Bridge website , and from there I believe you can easily find their daily reports- if not , try this URL: http:www.marketcenter.com/stories/story1105.html
I believe that will get you in , if not let me know. |
