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Politics : Formerly About Applied Materials

AMAT 223.18

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To: StanX Long who wrote (61489)	3/6/2002 3:22:21 AM
From: StanX Long	Read Replies (1) of 70976

Yen Rises After CSFB, Merrill Upgrade Japan Stock Weightings By Kanako Chiba quote.bloomberg.com Tokyo, March 6 (Bloomberg) -- The yen rallied back from an initial decline after Merrill Lynch & Co. followed Credit Suisse First Boston Ltd. in boosting its outlook on Japanese stocks, spurring expectations demand for yen to buy shares will rise. The Japanese currency strengthened to 132.02 against the dollar from 132.24 in New York yesterday. Against the euro, it climbed to 114.98 from 115.27 in New York. ``As foreign firms change their investment strategy and upgrade weightings on Japanese stocks, the yen will benefit from money coming into Japan,'' said Hidenori Watanabe, assistant general manager for foreign exchange at Dai-Ichi Kangyo Bank Ltd. In a report to clients, Merrill said it upgraded Japan to ``overweight'' from ``neutral'' because the nation should ``benefit from improved economic prospects'' amid forecasts for global growth. Japan has also taken measures, such as limits on trades that profit when share prices decline, to boost its stock market before the fiscal year ends on March 31, Merrill said.

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