posted at 00:50
Author Name: Mike Bird
Nikkei Japan Rebounding After Sell-Off
The Nikkei just saw a major rebound after a brutal sell-off last week. The Japanese stock index bounced back 3.98%, leaving it down just 5.88% since the start of the year. On Friday, it was down 9.48% since January. That's partly down to rumors out of the GPIF, Japan's massive public pension fund. The fund was expected to hike its equities allocation later this year, from 12% to about 20%. However, reports over the weekend suggest the figure is going to be more like 25%, and could go as high as 30%. The Nikkei ended up at 15,111. 23, comfortably above the 15,000 mark it plunged below last week.

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