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Technology Stocks : Micron Only Forum

MU 240.46

+1.7%

Dec 1 3:59 PM EST

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To: DJBEINO who wrote (26616)	1/16/1998 12:41:00 AM
From: MR. PANAMA (I am a PLAYER)	Read Replies (1) of 53903

Tokyo stocks surge on hopes for more econ steps TOKYO, Jan 16 (Reuters) - Tokyo stocks surged six percent to above the 16,000 level in mid-afternoon trade on Friday on speculation the Japanese government will announce more measures to boost the economy. The market was also buoyed by reports the ruling Liberal Democratic Party is planning to allow banks to re-value their land holdings based on market prices, brokers said. By 0430 GMT, the Nikkei 225 average was up 6.11 percent, or 924.17 points, at 16,046.15. Japanese media said the government may loosen its tight fiscal policy to come up with extra steps to boost the economy by the end of March. The government announced a series of measures to stimulate the economy and stabilise the financial system late last year. The measures, including a one-off income tax cut, are currently being debated in parliament. But traders say the measures are insufficient and additional economic steps may be the only recourse to boost the Nikkei. Traders were also cheered by media reports that the ruling Liberal Democratic Party is planning to allow banks and other firms to re-value their land holdings based on market prices. --------------------------------------------------------------------------------

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