TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Cheesehead who wrote (76617)	1/11/2001 10:05:06 PM
From: john	of 150070

(REUTERS) Tokyo stocks firmer =3 Tokyo stocks firmer =3 Investors were also encouraged by comments by Trade Minister Takeo Hiranuma that he asked the authorities to look into the possibility of easing regulations regarding corporate share buy-backs. Under current law, companies are allowed to buy back their own shares either for stock option schemes for employees or to cancel them. Analysts have said allowing firms to buy back and hold their own shares, to be sold to the market later or eventually cancelled, could help to absorb a share glut caused in part by banks and manufacturers stepping up their unloading of shares they hold in other firms. Companies usually intensify their unwinding of such cross-held shares towards the end of the business year in March in an effort to generate profits that will improve the performance on their books. Sales of cross-held shares weighed heavily on the banking sector on Friday, with many major banks falling despite the gains in the broader market. Mizuho Holdings Inc <8305.T> fell 3.59 percent to 645,000 yen and industry leader Bank of Tokyo-Mitsubishi Ltd <8315.T> dropped 1.62 percent to 1,033 yen. MORE * end of story *

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