Bloomberg reports today: “An advisory panel may urge the government to relax rules that separate banks and brokerages, the Nikkei newspaper reported. The Financial System Council will announce today that it will study the issue and seek to have its conclusions incorporated into the government’s reform framework for 2007 to be released by June, the […]

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For a better understanding of what transpired, read this Reuters quote of a strategist at Daiwa Securities: “The problem is that no one thinks that the Nikkei would hit 18,000 in the near future because of uncertainties in the U.S. economy. Earnings forecasts from Japanese companies will be conservative and unlikely to support the market […]

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