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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: borb who wrote (2140)	11/16/1999 12:31:00 PM
From: Professor Dotcomm	Read Replies (1) \| Respond to of 3902

The more I get to know this market, the less relevant the Nikkei 225 seems to be as a benchmark. Refined smoke stack is out and Nasdaq type technology is in. Most of the better Japanese mutual funds are hugely outperforming the Nikkei 225 because of this. For example, Fidelity, Universal and Altamira have each doubled over the last 12 months whereas the index is only up about 30%. The big event recently was the Softbank/Ito Yokado move on the Nippon Bank - but this left the Nikkei virtually unchanged. This is a parallel, but more pronounced, of the Nasdaq versus the DJIA before the DJIA let in one or two Nasdaq stocks. I believe the MSCI index is perhaps more representative but it is less easy to follow. The Topix, too, is broadly based. However the Nikkei gives us a more faithful line on Japan's current problems since so many of them are groping towards a new way to grow rather than stagnate.