Active Investing in Japan

A WSJ AsiaLinks email alert contained the following figures, explaining briefly where the action is:

Over the past six years, global futures trading on the world’s exchanges has grown nearly 30% a year, expanding the total derivatives market to about $500 trillion — four times the value of all publicly traded stocks and bonds. As a result, the Chicago Mercantile Exchange surpassed the New York Stock Exchange in market value in 2003. [WSJ: Derivatives Explosion Spurs Exchange Consolidation]

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* Nikkei 225 Stock Average: -80.54 (-0.4%) to 18,140.94, down on profit-taking, higher bond yields, ahead of U.S. employment data release
* Nikkei 225 futures Osaka: -90 (-0.5%) to 18,150, Singapore (SGX) 18,160, Chicago (CME) 7/5 — 18,235
* TOPIX: -8.49 (-0.5%) to 1,779.67; Advancers 390 x decliners 1,203 (unchanged 138), New highs 31 x new lows 33, 25 of 33 sectors closed lower
* Jasdaq: -0.01 (-0.01%) to 82.15
* Yen weakens 0.6% against US$ back above 123 –> 123.27 – 123.28

nikkei 225