It was very quiet. There was a lot of confusion over exactly what the government is talking about in terms of whether they are going to start cutting taxes.
More Quotes from Robert Sasaki:
We expect the market to continue to sell off. The economic news continues to be bad.Robert Sasaki
Then in the second quarter the foreign funds start coming in. They look at Japan and think that's doing well and the Japanese start selling straight into it. A regular pattern has been established with the high for the year reached in June or July in the last five out of six years.
Robert Sasaki
People were somewhat focused on the trade surplus numbers. Japan is ultimately an exporting country and those exports are getting more expensive.
Robert Sasaki
The market moved in a tight range. There was no particular news out here, which highlights that we are going into the Golden Week holiday and some traders are taking profits as a result.
Robert Sasaki
Things were very quiet. The market was (pushed) up by the joint venture between Fuji Bank and Dai-Ichi Kangyo Bank. That was all it needed.
Robert Sasaki
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