What to watch: Monday, 3/24: Business Outlook Survey; Land Prices; Friday, 3/28: CPI
Ongoing: BoJ disarray (Nikkei reports results of a poll showing 41% of respondents blame LDP for chief-seat vacancy vs. 27% for DPJ); Pointless speculation of rate cut (next BoJ rate decision meeting April 8-9); Fukuda Cabinet support rate drops 9 points m-o-m to 31%; Subprime fallout again delays Mizuho Securities-Shinko Securities merger
Markets: Volatility likely to continue as external factors to weigh heavy; Stocks paying a year-end dividend go ex-dividend on Thursday, 3/25; Possible testing of 13,000-level for Nikkei 225 with month and fiscal-year end window-dressing expected, but likely to be challenged by profit-taking
Weekly recap: 2% weekly gain to 12,482; 7% weekly fluctuation, breaking the 12,000-level intra-week to a 2-year 7-month low; Foreign investors were heavy net-sellers two-weeks ago (highest since Black Monday) and net-sellers again last week despite Friday’s net-buying on a broad rally
