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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call

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To: Win-Lose-Draw who started this subject	3/12/2003 1:26:14 PM
From: Softechie	Read Replies (3) of 11447

Japan to unveil market stabilization plan: Nikkei By Tomi Kilgore 03/12/2003 12:52 The Japanese government is expected to announce a number of measures aimed at stabilizing its financial markets, including the expansion of stock purchases by the central bank and joint interventions in the currency market, according to a report in the Nikkei Shimbun's Thursday edition. The financial daily said Japan's Financial Services Agency (FSA) will unveil a six-point plan to support stock prices and will ask the Bank of Japan to raise the ceiling on the amount it can spend to buy shares from commercial banks from the current 2 trillion yen ($17 billion). In addition, FSA will announce intentions to call on monetary authorities in the U.S. and Europe to intervene if the dollar drops sharply following the outset of war with Iraq, the report said. The dollar is currently unchanged versus the yen at approximately 117.10.

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