TOKYO, Aug 27 (Reuters) - The following are some of the main
factors likely to affect Tokyo stocks on Friday.
Tokyo stocks are expected to retreat, as a recent buying spree in the banking sector has lost
momentum.
Leading export-oriented companies are likely to remain under selling pressure amid worries over the
recent rise in the yen against the dollar, traders said.
They expected the key Nikkei average to trade between 17,600 and 17,800.
OUTLOOK
*``We still can't say the corrective phase in the stock market has finished,' said Shigeru Yoshida,
deputy general manager at Wako Securities Co Ltd.
*The Nikkei 225 average has fallen for the past three sessions.
*Yoshida said trading volume has decreased in recent sessions, showing the market is lacking
energy.
*But traders also said the Nikkei average was not likely to post sharp losses, despite a drop in U.S.
stocks overnight.
*Koichi Ayabe, dealing manager at Hinode Securities Co Ltd, said any impact of a slide in New
York stocks would be offset by strength in Chicago's Nikkei futures, which closed higher on
Thursday.
*Bank of Tokyo-Mitsubishi Ltd (BTM) and Nomura Securities Co Ltd , after a newspaper report
said on Friday that BTM is in the final stage of talks to buy part of Nomura's share holding in
Kokusai Securities Co Ltd .
*Japanese telecom carrier DDI Corp , after the company said on Thursday it would post a special
loss of 76 billion yen in the first half of 1999/2000 from forgiving loans to six of its personal handy
phone (PHS) subsidiaries. DDI also said it plans to merge nine PHS subsidiaries into one company
in January 2000. |
