Active Investing in Japan

This week, not unlike weeks prior, will be primarily about what kind of news comes out of the U.S. The good news is that major financial players have finished announcing earnings. The bad news is subprime-related problems were much bigger than anyone believed, or at least was willing to acknowledge. The question is for how much longer will “subprime” be a drag on earnings and how far/deep will the impact spread (autos, consumer electronics, etc).
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Japan market summary for Friday (Oct. 19)
Nikkei 225 Stock Average: -291.72 (-1.7%) to 16,814.37; lowest close in a month
Nikkei 225 futures Osaka: -300 (-1.75%) to 16,820, Singapore (SGX) -310 (-1.8%) to 16,790, Chicago (CME) *10/18 -40 (-0.2%) to 16,995
TOPIX: -26.47 (-1.6%) to 1,591.28; Advancers 243 x decliners 1,431 (unch. 51), New highs 12 x new lows 79; only 2/33 sectors posted gains (Other Financial [non-bank] and Mining)
Jasdaq: -8.14 (-0.4%) to 1,876.32
Yen: strengthened 0.7% to about the 115.20 level against the US$; strengthened 0.5% to 164.50 level against the euro
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