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Politics : Formerly About Applied Materials

AMAT 256.94

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2:58 PM EST

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To: StanX Long who wrote (60053)	2/6/2002 3:34:29 AM
From: StanX Long	Read Replies (1) of 70976

Tokyo stocks end down for fourth straight session sg.biz.yahoo.com TOKYO, Feb 6 (Reuters) - Tokyo stocks fell for a fourth straight session on Wednesday, led by Mizuho Holdings Inc <8305.T> and other big banks as investors fretted over the health of the financial system and the fate of pledged structural reforms. The benchmark Nikkei average <.N225> lost 0.58 percent or 54.75 points to 9,420.85, reversing earlier gains to end at an 18-year closing low for the second day in a row. The capital-weighted TOPIX index <.TOPX> shed 0.41 percent or 3.76 points to 922.51, also carving out a new post-bubble low. PC and chip maker NEC Corp <6701.T>, the most actively traded issue by volume and value, rose 0.23 percent to 884 yen, snapping a 12-day losing streak during which it shed nearly 30 percent. But banks, which rebounded the previous day, resumed their tumble after ratings agency Standard & Poor's late on Tuesday downgraded the member banks of Mizuho and four other lenders. "The only real support we have right now is buying from domestic pension funds that are rebalancing their portfolios after steep falls," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments. "Hopes for strong political leadership are all but gone. Foreigners are selling and you get the sense no gain can hold."

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