Monday's trading kept Tokyo's Nikkei in the black for the fourth day running. Most Far Eastern markets were mixed for the day. With the US markets closed for Presidents Day, no lead could be taken from US markets. The summit between Japan and the US pushed uncertainty, waiting for tomorrow's news and policies.
Tuesday saw the Nikkei in Tokyo fall almost 2.5% following the summit between Japan and the US. No solid policies were put in place to prop up the Japanese economy which did nothing to inspire investors. More bad news came from the Finance Minister who said he had no plans to put money into helping the banks with debts. The Kospi in Seoul fell by 1% waiting for George Bush's comments in South Korea. Both Hong Kong's Hang Seng and Taiwan's Weighted index closed down over 1.5%. Australia and New Zealand markets managed to end flat to slightly higher.
Wednesday again saw the Nikkei fall lower on the back of bad news from the US and worse news on Japanese earnings. Hong Kong and Taiwan markets fell again and in Seoul, George Bush's talks with the South Korean President (Kim Dae-Jung) left the market virtually unharmed but still down by over 0.5%. Again, Australia fell and New Zealand ended flat.
Thursday was a fantastic day for Tokyo with the Nikkei shooting up by almost 5%. As well as being helped by boosted US markets, the Government are in the processes of putting together an anti-deflation package. The combined news boosted buying but we will have to wait until the end of the month for the Government news. The Kospi in Seoul managed an almost 1.5% gain, as did the Hang Seng in Hong Kong. Taiwan markets moved slightly lower, as did Australia, New Zealand and Singapore.
Friday saw a second day of growth for the Nikkei as investor confidence and yesterday's surge carried on through. Elsewhere, other markets fell into the red after bad news from the US. Hong Kong, Taiwan, Singapore and Australia all fell. South Korean markets managed a gain.