Overshadowed. (performance of Japan's stock market; OPEC meeting)(Brief Article)
Economist (US), The, April, 1998
Japan's Big Bang programme of financial deregulation began with a whimper from the stockmarket. The Nikkei finished the fiscal year at 16,527, down from 18,003 a year earlier, and then fell further. Worries about weak banks and shrinking output were exacerbated by the bankruptcy of Daiichi Corporation, a mid-sized lender, and a gloomy survey of business sentiment from the Bank of Japan. Confidence took another knock when Sony's chairman declared the economy close to collapse. Less than ten years ago, the value of Tokyo's stockmarket was higher than any other; today it is smaller than London (the FTSE hit 6,000 this week), and Wall Street towers above both.
The oil producers' cartel, OPEC, held an emergency meeting together with several non-OPEC members including...
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