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Politics : Formerly About Applied Materials
AMAT 267.87-0.6%Dec 5 9:30 AM EST

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To: StanX Long who wrote (60007)2/5/2002 2:34:27 AM
From: StanX Long   of 70976
 
Japan shares plummet to 18-year low

news.bbc.co.uk

Tuesday, 5 February, 2002, 07:28 GMT

Japan's shares have slumped to a new 18-year low.
The benchmark Nikkei index finished below a key post-bubble closing low.

And it also fell below the slump caused by the 11 September terrorist attacks.

The Nikkei lost 1.62% of its value to close at 9,475.6, its lowest close since 15 December, 1983.

The fall in recent days has been due to a fall in the popularity of Prime Minister Junichiro Koizumi following the controversial sacking of his foreign Minister Makiko Tanaka.

Mr Koizumi was once thought to be the man able to implement the radical reforms needed to lift Japan's ailing economy out of the doldrums.

But his waning popularity has undermined investor belief that he will indeed be able to push the much-needed economic reforms through.

The Nikkei has also fallen below its US counterpart, the Dow Jones, for the first time.
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