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Politics : Formerly About Applied Materials

AMAT 327.03

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To: StanX Long who wrote (58685)	1/11/2002 2:44:24 AM
From: StanX Long	Read Replies (1) of 70976

Friday January 11, 2:18 PM Tokyo stocks end down, overshadowed by credit woes (Updates to close) sg.biz.yahoo.com TOKYO, Jan 11 (Reuters) - Tokyo stocks sank for a fourth day on Friday, having returned to the level before their New Year rally, as a pause in the yen's fall shifted investor attention back to weak fundamentals due to Japan's bad-debt woes. UFJ Holdings <8307.T>, the smallest of Japan's four mega- banking groups, led the bank sector lower, while debt-ridden Daiei Inc <8263.T> stayed in the spotlight after Standard & Poor's on Thursday cut the retailer's corporate credit rating. "The market is again haunted by credit jitters because banks' bad-loan problems remain unsolved," said Masaharu Sakudo, managing director at Tachibana Securities. "Some are even afraid of a corporate failure, which would give a hefty blow to clients, shareholders and banks, possibly as early as this three-day weekend." Japanese financial markets are closed on Monday for the Coming of Age Day holiday.

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