I hope for all involved that the intended meaning got lost in translation here.
Over the weekend, Japan Economics Minister Akira Amari put a near-term target on the Nikkei:
“It will be important to show our mettle to see the Nikkei [Average] reaches 13,000 points by the end of the fiscal year” on March 31, Amari was quoted as saying in an English-language report from Kyodo News.
The Nikkei Average closed at 11,153 on Friday, so a jump to 13,000 would represent a 16.5% gain in just over six weeks.
According to the Kyodo News, Amari said the government will pursue policy steps “to help stock prices rise.”
It almost sounds too preposterous to be true – until you consider this:
This is the look of a currency taking some punches for the benefit of the stock market. (via StockCharts.com)
Hat tip S&A Digest for the link to this gem.
More Abenomics: Japanese Investors LOVING Their New Money Printer
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