Excerpt from: Stock Indices CFDs and Spread Bets
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| February 16, 2007 | | Spread bets and CFDs should consider the yen's effect | As the Japanese yen makes gains on the currency market, Japanese stocks drop as the strong yen cuts into exports. Both of the main Japanese stock indices, the Nikkei and the Topix, are down, and spread betting and contracts for differences on Japanese stocks should consider the strength of the yen. Bloomberg reports:
``The yen's gain yesterday was big and that prompted
investors to stay away from automakers and other exporter
shares,'' said Atsushi Osa, who helps oversee $4.1 billion at
Sumitomo Mitsui Asset Management Co. in Tokyo. ``Steel Partners
holds stakes in several companies in Japan and putting money in
those companies is the easiest way for investors to bet on the
takeover trend.''
The Nikkei 225 Stock Average fell 21.58, or 0.1 percent, to
17,875.65 in Tokyo. The broader Topix index lost 2.18, or 0.1
percent, to 1774.53. The Nikkei advanced 2.1 percent for the
holiday-shortened week and the Topix gained 1.7 percent. | | |
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