Japan market summary for Tuesday (Nov. 27)
Nikkei 225 Stock Average: +87.64 (+0.6%) to 15,222.85
Nikkei 225 futures Osaka: +40 (+0.3%) to 15,240, Singapore (SGX) +40 (+0.3%) to 15,220, Chicago (CME) *11/26 -150 (-1.0%) to 14,850
TOPIX: +11.75 (+0.8%) to 1,478.78; Advancers 1,084 x decliners 537 (unch. 101), New highs 2 x new lows 151
Nikkei Jasdaq: -1.57 (-0.1%) to 1,731.12
Yen: strengthened 0.4% to 108.10-15 against the US$ late in Tokyo; strengthened 0.7% against the euro to the 160.15-20 level

Notes: The Nikkei was initially down more than 300 points, but recouped the losses and then some after news broke of Abu Dhabi Investment Authority’s (ADIA) $7.5 billion investment in Citigroup. The capital injection is much needed for Citi and the potential long-term gains seem to more than outweigh the near-term risks for ADIA, which could become Citi’s largest shareholder in a few years upon converting into common stock.

Sovereign wealth funds are an interesting and increasingly important player in the capital markets. This is not the last high-profile investment by any means. For now, markets reacted bullishly to the news and maybe that will support stocks similar to how private equity had been until this summer.

Separately, MOTHERS +3.2%, HERCULES +1.4%.