The Nikkei Is Booming Again After Last Week's Brutal Sell-Off
Oct 20, 2014, 12:49 IST
The Nikkei just saw a major rebound after a brutal sell-off last week.
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The Japanese stock index bounced back 3.98%, leaving it down just 5.88% since the start of the year. On Friday, it was down 9.48% since January.
Bloomberg
That's partly down to rumors out of the GPIF, Japan's massive public pension fund. The fund was expected to hike its equities allocation later this year, from 12% to about 20%. However, reports over the weekend suggest the figure is going to be more like 25%, and could go as high as 30%.
The Nikkei ended up at 15,111.23, comfortably above the 15,000 mark it plunged below last week.
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