It was from 1970 that the Japanese stock market did not know 12 consecutive weeks of growth. This Friday consecrated the record, in a week in which the regional index also MSCI Asia Pacificc records another advance from the previous Friday. The proximate cause of a day of ups and downs (outside Japan) lies in a data from the real economy: the “official” Japanese PMI it fell slightly in January (from 50,6 to 50,4), although remaining above the level of 50 which marks the crest between increases and decreases in economic activity. However, the use of this explanation is not very convincing, given that the other 'rival' PMI index – the one calculated by HSBC and Markit – marks instead a clear progress, from 51,5 to 52,3. The ups and downs of this weekend are probably a simple adjustment of prices along a trend that has been positive for some time.
Lo yen it resumed its march, climbing above 92 and thus bringing the depreciation compared to the highs of a few months ago (77 against the dollar) to 19%. The euro strengthens again, above 1,36 and WTI oil remains high, at 97,5 $/b.
