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Technology Stocks : Softbank Group Corp

SFTBY 70.44

-3.2%

Nov 7 9:30 AM EST

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To: TobagoJack who wrote (3363)	1/19/2000 1:53:00 AM
From: Edwin S. Fujinaka	Read Replies (2) of 6018

Softbank down in the US to $880 and then followed by a limit down in Tokyo to around an equivalent $860. This in spite of Yahoo becoming the first stock to top one million yen: Wednesday, January 19, 2000 Yahoo Japan Stock Becomes 1st To Top 100 Mln Yen TOKYO (Nikkei)--Yahoo Japan Corp. (4689) shares traded at 101.4 million yen just before 10 a.m. Wednesday, making it the first issue ever to break the 100 million yen barrier. It was just one year ago that the company, registered for trade on the over-the-counter market in November 1997, saw its stock price top 10 million yen. The session was well underway before Yahoo Japan even opened because of the massive imbalance between buy orders and sell orders. The stock had gone limit-up for six consecutive days through Tuesday, supported by strong earnings and plans for a 2-for-1 stock split. Yahoo Japan forecasts 334% growth in pretax profit to 1.7 billion yen for the year ending March 31. Sales should reach 5.3 billion yen, up 176%, thanks to higher revenue from online advertising. Internet-related stocks have climbed rapidly in recent sessions so concern is growing over the downside risk inherent in a purchase at this point. Some analysts say a correction is just around the corner. The Nikkei Stock Average had a weak morning session, falling below 19,000 at one point on sharp declines in Internet-related issues such as Softbank Corp. (9984) and NTT Mobile Communications Network Inc. (NTT DoCoMo) (9437). (The Nihon Keizai Shimbun Wednesday evening edition)

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