Japanese stocks rallied Wednesday, but not quite as high as may have been expected after the big gains in the states and in Chicago Nikkei 225 futures. Japanese ADRs gave back a lot of their prior day gains Wednesday. A number of ADRs had declines of more than 5%: FUJIFILM (FUJI: 0.00 0.00%), Mitsui & Co. (MITSY: 342.10 +1.57%), Nidec (NJ: 26.07 +0.81%), NTT DoCoMo (DCM: 15.51 +0.13%) and Wacoal (WACLY: 63.04 -1.11%). The lone advancer was long-time favorite Internet Initiative Japan (IIJI: 5.67 -0.53%). There’s no escaping the volatility. And that’s why we’re not so certain we’ve seen a bottom yet for the N225. The matter of yen repatriation prior to fiscal year-end is one issue, while Q4 results and uncertainty of new FY outlooks due out from late April are another. continue reading…
