12:00 AM
Feb 10, 2014
 |  BioCentury  |  Finance

A Japanese correction

Japanese biotechs see large correction but still up since January 2013
A Japanese correction

Japan's biotechs exhibited the high beta typical of the sector last week, falling more than five times as much as the country's broader markets, which themselves have been taking a beating. Nevertheless, Japanese biotechs still have far outperformed the market over the last 13 months.

An equal price-weighted index of 29 Japanese biotechs fell as much as 24% last week before closing down 16%. Every biotech in the index was down.

The broad Nikkei...

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