JAPAN UNEASY

Gisborne Herald, Volume LXIX, Issue 20966, 14 December 1942, Page 4

JAPAN UNEASY

SHARES BAROMETER MARKED DROP IN PRICES OBVIOUS PESSIMISM NEW YORK, Dec. 11. Japan’s stock traders are obviously pessimistic, says the Wall Street Journal. Share prices have been declining since- the Midway Battle in June and markedly since the second battle of the Solomons in November. These declines occurred despite official announcements of Japanese victories in the Pacific and heavyhanded Government attempts to force the prices of securities upward. On December 4, Tokio radio, in Japanese, said: “Due to yesterday’s market condition, which was completely demoralised by falling prices, a communique reporting Japanese successes in Guadalcanal' on November 30 failed to make any impression. Consequently, sacrifice sales flooded the market, causing allround drops.” The Wail Street Journal says that the general course of the market is reflected in the movement of the key share Bourse issue, “Tokio Stock Exchange.” which has declined 34 points in the last three months. “Tokio- Stock Exchange” is a purely speculative share bought and sold largely on rumour and inside information. It is a barometer indicating Japanese stock traders’ appraisement of Japan’s economic situation. This share was 138.5 before Midway. By November 17 it was down to 115.2 and on December was 99.7.