Japan market summary for Tuesday (Nov. 20)
Nikkei 225 Stock Average: +168.6 (+1.1%) to 15,211.52
Nikkei 225 futures Osaka: +140 (+0.9%) to 15,210, Singapore (SGX) +115 (+0.8%) to 15,215, Chicago (CME) *11/19 -290 (-2.7%) to 14,780
TOPIX: +12.66 (+0.9%) to 1,469.27; Advancers 734 x decliners 882 (unch. 107), New highs 2 x new lows 644; 24/33 sectors posted gains
Nikkei Jasdaq: -14.52 (-0.8%) to 1,734.63
Yen: slightly stronger against the US$ to the 110.45-50 level late in Tokyo; weakened 0.7% against the euro to the 162.90 level

Notes: It was the first gain in four sessions for the Nikkei. It was not exactly bullish considering the A/D line and the number of new lows. However, a positive close it what is and we’ll take it. Stocks rallied very late ahead of closing, but understandable so, considering the weak performance by U.S. stocks and early selling in Tokyo. Short-covering can be credited to the late surge into positive territory and triple-digits for the N225. A flat yen against the dollar (and weaker against the euro) was also helpful. MOTHERS lost 0.5%, but HERCULES gained 0.8%. As a whole, Japanese stocks remain oversold. However, as stated in previous posts, a sustainable rally is unlikely, as ultimately it will be a race to the exists after decent gains are achieved.