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Politics : Formerly About Applied Materials
AMAT 269.55+0.3%Dec 4 3:59 PM EST

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To: StanX Long who wrote (63927)5/21/2002 4:48:42 AM
From: StanX Long  Read Replies (1) of 70976
 
Tokyo stocks fall after five-day bull run
Tuesday May 21, 2:59 PM

sg.biz.yahoo.com

TOKYO (Reuters) - Tokyo's key Nikkei share average snapped a five-day winning streak on Tuesday, with tech and auto exporters including Toyota Motor Corp knocked back by a Wall Street slide and the yen's firmer trend.

The Nikkei closed down 0.47 percent or 55.38 points at 11,801.16. Traders said the market was due to correct after gaining nearly five percent in the past five trading days.

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"This is no time to be chasing tech shares higher considering chipmakers are assuming 130 yen to the dollar this business year," said Sayaka Higaki, a strategist at Kokusai Securities.

"It makes sense to shift some money into domestic-related shares, like retail and steel."

NEC Corp , Japan's second-largest chipmaker, lost 3.73 percent to 981 yen, while Toyota, Japan's largest automaker, shed 1.41 percent to 3,500 yen.
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