Wednesday, January 18, 2006

Japan Following American business Practices

The Tokyo stock market had to close early after being hit by a massive stock sell off. This happened as a result of a criminal investigation of Livedoor, a high tech start up in Japan.

Panic trading spurred by a widening criminal investigation of a popular Internet startup forced the Tokyo Stock Exchange to shut down 20 minutes early Wednesday as share prices plunged for a second day.

It was the first time trading had to end early because the markets computers couldn't handle a surge of transactions. The benchmark for the Tokyo exchange slid 2.9 percent Wednesday. The Nikkei 225 index dropped 464.77 points

The Tyco, Worldcom, Enron business model appears to have fans in Japan.


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