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The Hemlines That Rise Along With Japan's Stock Market

posted 16 Apr 2013, 04:45 by Mpelembe Admin   [ updated 16 Apr 2013, 04:47 ]

 

Reuters Business Video Report - REUTERS REPORTER, YONGGI KANG

"Living in Japan, I've got used to hearing words like 'fukeiki', which literally means economic slump. That's because life's been like that for many years ever since the last big bubble of the 90s popped. But lately, you get the sense that things are finally starting to pick up."

Why? It's called Abenomics.

Prime Minister Shinzo Abe's cocktail of money printing and public spending has pushed the stock market up to levels we haven't seen in years.

That's made it seem like the good times might be finally back.

Luxury shoppers are splurging again on expensive, fine goods. And even the property market is showing signs of life.

The impact of Abenomics, though, goes beyond just financial assets.

This is Machikado Keiki Japan. A girl band, yes, but instead of singing about love they sing about the economy.

And they are big Abenomics fans.

In a country saturated with teenage idols, they've found a way to stand out.

For every 1,000-point rise in the Nikkei average, the girls skirts rise a little higher, too.

It's not just sex-appeal. It's a reference to boom time fashion in the 60s and 80s.

And just like an investment bank they have a near-term target for the Nikkei. 15,000.

That's pretty bullish.

If that happens, the girls have promised to hand out free cakes to businesspeople around Tokyo's train stations.

REUTERS REPORTER, YONGGI KANG,

"The reason they're doing that? Well, 'cake' actually sounds like the Japanese word for economy, which is 'keiki". And this is one group that's certainly doing their part to sweeten it up."



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