Capital, Not Technology Keeps Tokyo Stock Exchange Prices Stable

THIS WEEK'S LEAD STORIES

In the search for a perfect market structure that began after the October 1987 stock market crash, much attention has been focused on the Tokyo Stock Exchange's method of trading. But it would be a mistake to attribute the stability of the Japanese stock market solely to its trading system, according to an expert on Asian capital markets.

Government commitment and surplus capital have played a greater role in keeping prices aloft on the TSE than its method of trading, Anne Cabot-Alletzhauser told

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