Despite a positive revision to Japan's first-quarter growth figures, the Nikkei Average also fell.
In that post I cited the Nikkei average value on June 17, which sat at about 9, 350.
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Japan's Nikkei Average was 1.8% higher at 8721.02 and South Korea's Kospi also climbed 1.8% to 1891.71.
The Nikkei Average Index has rallied 14% this year, a remarkable achievement given the past year's calamities.
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In Tokyo, the Nikkei average closed down half a percent Thursday, after declining 9.4 percent a day earlier.
On December 10, the Nikkei average closed at 9, 533, well above its 25 day moving average of 9, 169.
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Tokyo's Nikkei average ended the morning down 2.19 percent at 8, 377.75, a three-week low, though it is recovering slightly as the afternoon sets off.
He points to the way the Nikkei average in Japan rallied over 70% 5 times over the past two decades and then speedily retraced its ascent.
Japan's Nikkei Average bucked the trend, ending at a one-month high, as a weaker yen made its goods more affordable to overseas buyers and boosted the shares in exporters.
The Nikkei average regained 10, 000 on July 20.
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However, Buffett added, "We'd want to buy them cheaper than the same kind of companies in the U.S." He finds the price-to-earnings ratios of Japanese companies still too high even though the Nikkei average has dropped to 8, 000 from 40, 000.
The average book value of the life firms' shares is now equivalent to 14, 900 on the Nikkei 225 stockmarket average, compared with the Nikkei's actual level of around 20, 600.
Compounding worries about the Fed was a 7.3% drop in Japan's Nikkei Stock Average.
Japan's Nikkei Stock Average slipped 0.2% as some strengthening in the yen weighed on exporter shares.
In Asia, Japan's Nikkei Stock Average surged 1.9% to its highest level since June 2008.
The softer yen supported Japanese stocks, with the Nikkei Stock Average up 1.2% to 13, 382.89.
Japanese stocks were helped by the weaker yen, with the Nikkei Stock Average up 1.8%.
The Nikkei Stock Average plunged 2.7% to 12220.63, the market's largest percentage decline since May 18.
Japan's Nikkei Stock Average added 1.5% to 8766.36, its highest close since Nov. 7.
The Nikkei Stock Average vaulted 3.8% on Wednesday to a four-year high of 11463.75.
Japan's Nikkei Stock Average is 3% higher so far this year, while Korea's Kospi is flat.
Japan's Nikkei Stock Average climbed 1.5% after the Japanese government raised its assessment of the country's economy.
The Nikkei Stock Average was up 1.9% at 13, 574.71 midday after hitting a fresh four-year, nine-month high.
Japan's Nikkei Stock Average fell 1.2% to 13220.07 and South Korea's Kospi Composite lost 1.2% to 1900.06.
Asian exchanges were mixed, with Japan's Nikkei Stock Average falling 0.4% and the Hang Seng gaining 1.6%.
Japan's Nikkei Stock Average gained 0.5% to finish at a 52-week high, up 2.4% for the week.
The Nikkei Stock Average finished down 3.7% at 13, 261.82, a six-week low amid selling by domestic retail investors.
Japan's Nikkei Stock Average rose 0.7%, finishing at a 52-week high, with a 3.6% advance for the week.
In Japan, the Nikkei Stock Average surged 3.6% to a near five-year high, following a long holiday weekend.
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