Japan`s Nikkei Collapses to 9500

The Nikkei has been falling steadily for 3 days and finally collapsed to 9500 points on the 5th, the lowest price in 19 years.

Nikkei prices have been affected by the degradation of the U.S. stock market and opacity of treatment of domestic insolvent bonds, ending up at 9,475.60 which is 156.33 points lower compared to the previous day.

The Nikkei stock price is under 9504.41 which is the lowest recorded price since 17th of last September after the collapse of the bubble economy (as the standard of ad valorem).

Also, this is the lowest level in 19 years after 9,462.43 that was recorded on the 15th December 1983, if it is counted before bubble economy.

Although Prime Minister Koizumi Junichiro stated at an administrative policy speech in the Japanese Diet on the 4th that he will promote structural reforms without concern for fall in popularity, stock prices fell down continuously that day as well.

ksshim@donga.com