Takenaka surrounded by enemies

New evidence that the Japanese government is incapable of solving the banks bad loan problems hurt the Tokyo stockmarket during October.

Jonas Lindmark 01.11.2002
After three quarters with good relative performance for Japanese funds, autumn has been depressing. The MSCI Japan index in dollars is down 7% during the fourth quarter, as of October 29th, while the MSCI World is up 6%.

Investor sentiment

It seemed to be good news when economics minister Heizo Takenaka was appointed as head of the Financial Services Agency on September 30th. He promised to present broad measures to restructure bad loans and force the banks to behave in a more rational manner on October 22nd.

But Mr Takenaka is surrounded by enemies, according to the latest edition of The Economist he faces resistance from all sides: his political party the ruling LDP, his coalition partners, opposition parties

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Jonas Lindmark

Jonas Lindmark  on ollut vuodesta 2000 Morningstarin päätoimittaja ja pääanalyytikko Ruotsissa. Sitä ennen hän kirjoitti yhdeksän vuotta rahastoista Affärsvärldeniin.

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