A further rise (in the Nikkei) would need support from good fundamental news, such as corporate earnings or consumer spending.
More Quotes from Kunihiro Hatae:
It can be seen as a positive sign that vigorous corporate restructuring is underway. But the negative impact would be larger as it would dampen individual consumption.Kunihiro Hatae
The New York gains are nice, but a rebound of this scale is not enough to turn the bearish trend around.
Kunihiro Hatae
Across-the-board buying is over and investors have to select stocks with good earnings prospects.
Kunihiro Hatae
Tokyo shares followed the Nasdaq today. Also, trading was supported by those buyers who came back to the market now that Y2K-related concerns seem to have cleared.
Kunihiro Hatae
People moved to take profits now as they don't want to be squeezed during a holiday.
Kunihiro Hatae
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