Japan: Buy For A Rally (Maybe More)

April 05, 1992 BY The Leuthold Research Team <   >

One of the great bubbles of all time continues to deflate. The Japanese stock market, as measured by the Nikkei Index is now down 53% from its December 1989 peaks. The P/E for the Nikkei has fallen from its 1987 peak of 68 to its current level of 30 (trailing 12 month earnings), a decline of 56%.

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