Japan Stocks Fall a Fifth Day on MUFG Share Plan, Real Estate

[seemslikeadream]

http://www.bloomberg.com/apps/news?pid=20601101&sid=aHSyaXImSLlM&refer=japan

Oct. 28 (Bloomberg) -- Japan stocks fell, sending the Nikkei 225 Stock Average briefly below 7,000 for the first time since 1982, led by banks after a drop in equity prices drove Mitsubishi UFJ Financial Group Inc. to replenish its depleted capital.

Mitsubishi UFJ, the nation's largest listed bank, slumped 15 percent on top a 15 percent drop yesterday after losses on equity holdings and a spending spree pushed the bank to sell new shares. Mitsubishi Estate Co. plunged the most in more than three decades on concern financing will dry up as banks scramble for capital. Canon Inc. declined 4.6 percent after forecasting a drop in profit on the surging yen and slower global growth.

``We are now in a selling panic which will eventually end, but some investors will suffer,'' said Edwin Merner, president of Atlantis Investment Research Corp. in Tokyo, whose parent company manages about $3.1 billion. ``There is probably no hurry to be rushing in, better to save some ammunition and buy very slowly and be very selective.''

The Nikkei 225 dropped for a fifth day, losing 67.76, or 1 percent, to 7,095.14 at the 11 a.m. break in Tokyo. The gauge rose by as much as 1.4 percent and falling to as low as 6,994.90. The broader Topix index fell 18.24, or 2.4 percent, to 728.22.


http://www.reuters.com/article/businessNews/idUSTRE49B3PW20081028

Wall Street drops to 5-yr lows on economic fear

[sharesunited]

1. The Nikkei is UP 6.41% right now, at 1:13am CDT.

Would be nice to wake up for a change and not find another big slide down.

[girl gone mad]

2. Looks like we could catch a break today.

The nikkei closed up over 6%. Yen is easing on the threat of intervention.

[TheWatcher]

3. Looks like this is the beginning of the Rate Cut Party.

I wouldn't read too much into this for right now. Too much synthetic Manipulations of Markets going on right now via rumors, schemes, and things that have much more to do with management of perception rather than real solutions or machinations that wil help stimulate an actual recovery.

This is long from over. The Economy is not going to recover based on Parlor Games and tricks that helped us get INTO the Crisis to begin with.

Don't be fooled by Bulls getting high on Bullshit. :)