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Politics : Formerly About Applied Materials

AMAT 258.88

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2:13 PM EST

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To: StanX Long who wrote (56796)	12/3/2001 5:00:48 AM
From: StanX Long	Read Replies (1) of 70976

Monday December 3, 4:41 am Eastern Time Tokyo stocks end down by more than 3%, banks hit (UPDATE: Adds fund manager comments) biz.yahoo.com By Kiyoshi Takenaka TOKYO, Dec 3 (Reuters) - Tokyo stocks lost more than three percent on Monday after the collapse of U.S. energy trader Enron Corp (NYSE:ENE - news) fanned concerns over credit risk for Japanese banks. ADVERTISEMENT Enron filed for Chapter 11 bankruptcy on Sunday, battering UFJ Holdings Inc , whose asset management affiliate holds bonds issued by Enron, and weighing on a banking sector already under pressure from a slew of recent corporate failures. ``Worries over banks' credit risks are deep in investor minds,'' said Toshihiko Matsuno, deputy general manager of the investment advisory office at Sakura Friend Securities. ``Enron went under in America, and in Japan we have major corporate failures almost every week. It's quite natural that investors are increasingly concerned about credit risks.''

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