Japanese stocks status

Japanese stocks fell in to the low level in the past two weeks, Because of the makers of electronics and cars, Because of the good sales in the above mentioned fields ,all the relevant stocks became very expensive compared to earnings & profits may be harm by rising unemployment and falling prices.Canon, which is the world’s largest camera maker and surged 8 % in the past two days, lost 1.7 %. Toyota Motors., the world’s biggest car maker retreated 1 % in 2 days, 4.6 % advance. Tokyo Electron Ltd., the world’s No. 2 maker of chip equipment, went down by 1.7 % after went to the high level in September 2008 yesterday. Now only this stock went down. Usually this kind of corrections used to happen in the market. “The market is just taking a breather from the rally,” said Yoshinori Nagano, a senior strategist in Tokyo at Daiwa Asset Management Co., which oversees the equivalent of $94 billion. “People are feeling cautious, and they’re taking profits.”


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