Difference between revisions of "Nikkei 225"
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== Brief History == | == Brief History == | ||
The Nikkei 225 Stock Average is a price-weighted average of the top 225 Japanese companies in the First Section of the Tokyo Stock Exchange and was first published by the Nihon Keizai Shimbun ("Nikkei") newspaper in 1949.<ref>{{cite web|url=http://www.bloomberg.com/apps/quote?ticker=NKY:IND|name=Nikkei 225 Stock Average|org=Bloomberg|date=May 29, 2008}}</ref> Its closest competitor is the S&P/TOPIX 150, an index represents 150 highly liquid, large-cap Japanese stocks and 70% of total equities market value.<ref>{{cite web|url=http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_topix150/2,3,2,7,0,0,0,0,0,2,1,0,0,0,0,0.html|name=S&P/TOPIX 150 Overview|org=Standard & Poors|date=May 29, 2008}}</ref> | The Nikkei 225 Stock Average is a price-weighted average of the top 225 Japanese companies in the First Section of the [[Tokyo Stock Exchange]] and was first published by the Nihon Keizai Shimbun ("Nikkei") newspaper in 1949.<ref>{{cite web|url=http://www.bloomberg.com/apps/quote?ticker=NKY:IND|name=Nikkei 225 Stock Average|org=Bloomberg|date=May 29, 2008}}</ref> Its closest competitor is the [[S&P/TOPIX 150]], an index represents 150 highly liquid, large-cap Japanese stocks and 70% of total equities market value.<ref>{{cite web|url=http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_topix150/2,3,2,7,0,0,0,0,0,2,1,0,0,0,0,0.html|name=S&P/TOPIX 150 Overview|org=Standard & Poors|date=May 29, 2008}}</ref> | ||
Movements in the Nikkei 225 are nowadays more closely correlated with the yield for 10-year U.S. Treasury bills than with any other non-Japanese market factor, according to one analysis.<ref>{{cite web|url=http://seekingalpha.com/article/69662-nikkei-225-will-turn-when-u-s-treasuries-do|name=Nikkei 225 Will Turn When U.S Treasuries Do|org=SeekingAlpha.com|date=May 29, 2008}}</ref> Downward pressure on T-bill yields such as lower Federal Reserve interest rates is currently also holding down the Nikkei 225, the author argues, which will rise when 10-year T-bill yields go north. | Movements in the Nikkei 225 are nowadays more closely correlated with the yield for 10-year [[U.S. Treasury bills]] than with any other non-Japanese market factor, according to one analysis.<ref>{{cite web|url=http://seekingalpha.com/article/69662-nikkei-225-will-turn-when-u-s-treasuries-do|name=Nikkei 225 Will Turn When U.S Treasuries Do|org=SeekingAlpha.com|date=May 29, 2008}}</ref> Downward pressure on T-bill yields such as lower Federal Reserve interest rates is currently also holding down the Nikkei 225, the author argues, which will rise when 10-year T-bill yields go north. | ||
== Trading Vehicles == | == Trading Vehicles == | ||
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Both [[Nomura Asset Management]]<ref>{{cite web|url=http://finance.google.com/finance?q=OSA:1321|name=Nikkei 225 Exchange Traded Fund (ETF)|org=Google Finance|date=May 29, 2008}}</ref> and [[Daiwa Asset Management]]<ref>{{cite web|url=http://www.ose.or.jp/e/stocks/sj/1320_e.pdf|name=Daiwa ETF - Nikkei 225|org=Osaka Securities Exchange|date=May 28, 2008}}</ref> offer [[Exchange Traded Funds]](ETFs) tracking the Nikkei 225, both listed on the [[Osaka Securities Exchange]]. [[Barclay's Global Capital]] lists an [[iShares]] Nikkei 225 ETF on Germany's [[Deutsche Borse]]<ref>{{cite web|url=http://deutsche-boerse.com/dbag/dispatch/en/notescontent/gdb_navigation/trading_members/55_Statistics_Company_Lists/65_Tradable_Instruments/10_Xetra/INTEGRATE/infoxetra?doc=instrument&detail=DE000A0H08D2|name=ISHARES NIKKEI 225|org=Deutsche Borse|date=May 29, 2008}}</ref>. | Both [[Nomura Asset Management]]<ref>{{cite web|url=http://finance.google.com/finance?q=OSA:1321|name=Nikkei 225 Exchange Traded Fund (ETF)|org=Google Finance|date=May 29, 2008}}</ref> and [[Daiwa Asset Management]]<ref>{{cite web|url=http://www.ose.or.jp/e/stocks/sj/1320_e.pdf|name=Daiwa ETF - Nikkei 225|org=Osaka Securities Exchange|date=May 28, 2008}}</ref> offer [[Exchange Traded Funds]](ETFs) tracking the Nikkei 225, both listed on the [[Osaka Securities Exchange]]. [[Barclay's Global Capital]] lists an [[iShares]] Nikkei 225 ETF on Germany's [[Deutsche Borse]]<ref>{{cite web|url=http://deutsche-boerse.com/dbag/dispatch/en/notescontent/gdb_navigation/trading_members/55_Statistics_Company_Lists/65_Tradable_Instruments/10_Xetra/INTEGRATE/infoxetra?doc=instrument&detail=DE000A0H08D2|name=ISHARES NIKKEI 225|org=Deutsche Borse|date=May 29, 2008}}</ref>. | ||
Chicago's CME Group also lists dollar-denominated futures and options on futures contracts on the Nikkei 225 that are eligible for the Mutual Offset System (MOS) and so can clear either through the <ref>{{cite web|url=http://www.cmegroup.com/trading/equity-index/international-index/nikkei-225-dollar_FO.html|name=Nikkei 225 (DOLLAR) Futures Product Overview|org=CME Group|date=May 29, 2008}}</ref> or the [[Singapore Exchange]]REF. | Chicago's [[CME Group]] also lists dollar-denominated futures and options on futures contracts on the Nikkei 225 that are eligible for the Mutual Offset System (MOS) and so can clear either through the <ref>{{cite web|url=http://www.cmegroup.com/trading/equity-index/international-index/nikkei-225-dollar_FO.html|name=Nikkei 225 (DOLLAR) Futures Product Overview|org=CME Group|date=May 29, 2008}}</ref> or the [[Singapore Exchange]]REF. | ||
== References == | == References == | ||
<references /> | <references /> | ||
Revision as of 01:07, 30 May 2008
The Nikkei 225 index, named for the Japanese business newspaper that calculates it, is the most widely quoted benchmark of Japanese large-cap stock performance. It trades most commonly on global markets as ETFs and futures contracts.
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Brief History[edit]
The Nikkei 225 Stock Average is a price-weighted average of the top 225 Japanese companies in the First Section of the Tokyo Stock Exchange and was first published by the Nihon Keizai Shimbun ("Nikkei") newspaper in 1949.[1] Its closest competitor is the S&P/TOPIX 150, an index represents 150 highly liquid, large-cap Japanese stocks and 70% of total equities market value.[2]
Movements in the Nikkei 225 are nowadays more closely correlated with the yield for 10-year U.S. Treasury bills than with any other non-Japanese market factor, according to one analysis.[3] Downward pressure on T-bill yields such as lower Federal Reserve interest rates is currently also holding down the Nikkei 225, the author argues, which will rise when 10-year T-bill yields go north.
Trading Vehicles[edit]
Both Nomura Asset Management[4] and Daiwa Asset Management[5] offer Exchange Traded Funds(ETFs) tracking the Nikkei 225, both listed on the Osaka Securities Exchange. Barclay's Global Capital lists an iShares Nikkei 225 ETF on Germany's Deutsche Borse[6].
Chicago's CME Group also lists dollar-denominated futures and options on futures contracts on the Nikkei 225 that are eligible for the Mutual Offset System (MOS) and so can clear either through the [7] or the Singapore ExchangeREF.
References[edit]
- ↑ Nikkei 225 Stock Average. Bloomberg.
- ↑ S&P/TOPIX 150 Overview. Standard & Poors.
- ↑ Nikkei 225 Will Turn When U.S Treasuries Do. SeekingAlpha.com.
- ↑ Nikkei 225 Exchange Traded Fund (ETF). Google Finance.
- ↑ Daiwa ETF - Nikkei 225. Osaka Securities Exchange.
- ↑ ISHARES NIKKEI 225. Deutsche Borse.
- ↑ Nikkei 225 (DOLLAR) Futures Product Overview. CME Group.