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Tuesday, September 30, 2008
BoJ's Tankan Shows Pessimistic Mood, First In Five Years
Chris Oliver
MarketWatch Pulse
HONG KONG --The mood among Japanese firms turned negative for the first time in five years, the Bank of Japan's quarterly tankan survey of business sentiment showed Wednesday. The headline diffusion index for large manufacturers was minus 3 in the July to September quarter, deteriorating from 5 in the previous quarterly survey. The negative reading was the first since the third fiscal quarter of 2003. Consensus expectations were for a reading of minus 2.
Copyright © 2008 MarketWatch, Inc.
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
