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Japan Economy Minister: It’s “Important” for Nikkei to Climb 17% the Next 6 Weeks(!)

by Brett on February 11, 2013

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.

Source: MarketWatch

According to the Kyodo News, Amari said the government will pursue policy steps  “to help stock prices rise.”

Wow.

It almost sounds too preposterous to be true – until you consider this:

Japanese yen price chart

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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