Tokyo Stock Exchange Recorded the Lowest Level for Last 19 Years

As the investors take the position of wait-and-see with the 1st anniversary of 9.11 Terror before on, Nikkei Value of Tokyo Stock Exchange dropped at lowest level for last 19 years.

Nikkei Value has dropped for six consecutive days, and closed at 9,217.04 yen dropped by 304.59 yen compared to the previous day. It is the lowest level since 19th September of 1983. It is lower than the value of 9,420.85 yen at time of ‘Financial Crisis Rumor’ in 6th of February by more than 200 yen.

Tokyo Stock Exchange collapsed helplessly as foreign investors took the position of wait-and-see with the 1st anniversary of 9.11 Terror before on and purchasing disappeared due to effects of the decline of stocks value in Europe in the previous day.

Additionally, the delay of the business operation, fraud report of Japanese ham as imported one, the concealment of nuclear reactor defect by Tokyo Electricity, etc dropped business reliability and accelerated the decline of the stock value.

To make thing worse is that as the economic restructure by Koizumi Junichiro cabinet didn’t show any results, the economy declined again and the investment confidence disappeared rapidly.

AS Nikkei recorded the lowest level since the collapse of bubble, the ministers

concerned in economy began to appeal to investors to be calm down. Yanakisaya Hakuo,

minister of Finance emphasized, “There is no fundamental problem on Japanese

economy.” Siokawa Masajuro, minister of Treasury commented, “It is very difficult to

establish a stock market policy only for Japan”. So he cleared that the government will

not take short-term pump-priming policy for stock market.

Young-Ee Lee yes202@donga.com