“It’s Different This Time” Japanese Stock Market Swing Is Fastest Ever

Jon Alternative Media, Blogosphere, Economy, Market Commentary

In the space of the last 3 weeks, Japanese stocks have swung from the most overbought in 18 months to the most oversold in 3 years to the most overbought in 18 months again. This is the fastest and most violent swing in TOPIX on record as ever-more-desperate hot money chases central bank actions around the world. As Bloomberg reports, ‘Japan is a very unnerving market because it behaves like an uneducated brat,’ said Mikio Kumada, Hong Kong-based global strategist at LGT Capital Partners, which manages about $50 billion. Following the double-whammy of GPIF allocations and BoJ expansion, he warns “you don’t know what it’s going to do in the next moment and in many ways it’s unpredictable.”

This post was published at Zero Hedge on 11/07/2014.