Tokyo's Bulls May Soon Run Out Of Breath

Government bailouts have the market roaring--for now

Is it just a blip, or is it for real? That's what global investors wonder after the torrid 17.5% runup in the Nikkei stock index to around 16,300 so far this year. After a nightmarish decade, maybe, just maybe, the scent of fast money has returned to the Tokyo Stock Exchange. Morgan Stanley Dean Witter equity guru Barton Biggs thinks so: He sees an additional 10% jump, to 18,000 by yearend.

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