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Politics : Formerly About Applied Materials
AMAT 319.11+5.7%Jan 15 3:59 PM EST

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To: StanX Long who wrote (58893)1/16/2002 4:16:21 AM
From: StanX Long  Read Replies (1) of 70976
 
Wednesday January 16, 3:36 PM

Tokyo stocks end mixed as banks gain and techs fall

sg.biz.yahoo.com

TOKYO (Reuters) - Tokyo stocks ended mixed on Wednesday, with chip-equipment makers sliding after a cut in capital spending by Intel Corp (Singapore: INTC.SI - news) and banks firming on hopes a rescue plan for Daiei Inc was close at hand.



As expected, the Bank of Japan (BOJ) decided to keep its ultra-loose monetary policy unchanged but stepped up its efforts to head off a liquidity crunch in the troubled banking system ahead of the end of the financial year in March.

But any boost from the BOJ's efforts -- including its decision to expand eligible Japanese government bonds (JGBs) for its outright bond-purchase operations -- was limited to the debt market and individual shares.

As a result, the technology-sensitive Nikkei average fell for a sixth straight session, giving up 0.30 percent or 30.47 points to 10,177.58 as Nikon Corp <7731> and other semiconductor-equipment makers headed south.

Those losses followed a downbeat spending forecast by top chipmaker Intel, which said on Tuesday it planned to trim capital spending by 25 percent in 2002.

In contrast, the capital-weighted TOPIX index snapped a five-day losing streak, putting on 0.74 percent or 7.29 points to 987.61 after slipping earlier below a post-bubble closing low of 980.11 marked in October 1998.
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