Softbank closed at $269 on Friday July 30th in Japan. One Japanese Internet Index closed up almost three times it's level at the beginning of the year:
Thursday, July 29, 1999
Societe Generale Launches Index For Japan Internet Issues
TOKYO (Nikkei)--Societe Generale Securities Ltd., Tokyo Branch announced Wednesday that it has created a new Japanese Internet-stock index.
With information issues attracting interest, the firm feels there is strong demand for an index reflecting the movement of Internet-related issues.
The SG e-index Japan currently consists of 30 issues, including Fujitsu Ltd. (6702), Softbank Corp. (9984) and Sanrio Co. (8136). Societe Generale's Japanese equity analysts will periodically review the composition of the index.
With a base value of 1,000 as of Jan. 5, 1999, the index will be calculated at the close of each day using the same weighted market values as the TOPIX.
On Wednesday, the new index closed up 126 points at 2,911.
(The Nikkei Financial Daily Thursday edition)
Copyright 1999 Nihon Keizai Shimbun, Inc., all rights reserved.
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