Japan Current Affairs - 2019

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Hong Kong’s stock market overtakes Japan to be world’s third largest

Hong Kong’s equity market has overtaken Japan to be the world’s third largest in value, behind only the U.S. and mainland China. This is due to the rebound witnessed in Hong Kong stocks after their worst year since 2011.

Hong Kong Equity Market

Hong Kong’s market cap was $5.78 trillion as of Tuesday and Japan’s market cap was $5.76 trillion. Hong Kong’s Hang Seng Index climbed 17 per cent this year through Tuesday. The main driver behind the climb was Internet giant Tencent Holdings Ltd. which has witnessed a 22 per cent gain. Japan’s Topix Index advanced 8.3 per cent this year.

As the IMG released the World Economic Outlook April 2019 report, both markets witnessed a slowdown. The Hang Seng Index slipped 0.1 per cent and the Topix fell 0.7 per cent.

Month: Categories: Business, Economy & BankingUPSC

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Nagaland observes 75th anniversary of Battle of Kohima

Nagaland observed the 75th Anniversary of the Battle of Kohima. The event was attended by the representatives from the UK and Japan who spoke on the theme of ‘Remembrance, Reconciliation and Rebirth’.

The dignitaries from the UK and Japan sought reconciliation and forgiveness for the sufferings and pain caused against each other at the Battle of Kohima, that was fought in three stages during the Second World War in 1944.

Battle of Kohima

Battle of Kohima is considered as the turning point of the Japanese U Go offensive, or Operation C mission launched in India in 1944 during the Second World War. The Battle of Kohima was fought in three stages from 3 April to 22 June 1944 around the town of Kohima in Nagaland in northeast India:

  • From 3 to 16 April, the Japanese attempted to capture Kohima ridge, a feature which dominated the road by which the besieged British and Indian troops of IV Corps at Imphal were supplied. By mid-April, the small British and Indian force at Kohima was relieved.
  • From 18 April to 13 May, British and Indian reinforcements counter-attacked to drive the Japanese from the positions they had captured. The Japanese abandoned the ridge at this point but continued to block the Kohima–Imphal road.
  • From 16 May to 22 June, the British and Indian troops pursued the retreating Japanese and reopened the road. The battle ended on 22 June when British and Indian troops from Kohima and Imphal met at Milestone 109, ending the Siege of Imphal.

The battle is often referred to as the “Stalingrad of the East”. Kohima was the theatre of the War in 1944 and the Nagas were drawn into it on both sides some with the British and some with the Japanese.

Month: Categories: StatesUPSC

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