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To: Bonnie Bear who wrote (15261)	3/30/1998 4:45:00 PM
From: TRICKY	Read Replies (1) of 18056

"They've got to get it to at least 17,000 for book closing even if they can't get to 18,000," said Tsuguya Onozuka, assistant manager in the futures and options division at Yamatane Securities Co. "If they don't get the market up today, it's curtains." [Excerpted from Bloomberg News after close of Nikkei market on 30th Mar 98] "The Nikkei.. closed at 16,263.04... down 2.84 percent" [Tampa Bay Online / AP News, 30 Mar 98] Coming shortly- Japanese banks must declare whether they meet capital adequacy ratio requirements ( set by the BIS ) on their assets. Some of their assets are "unrealised profits" ( or losses ) from equities. That is why the assistant manager quoted above was getting melodramatic. As if that's not enough, the markets are being deregulated- Japan's Big Bang, April 1st, so at the same time as the extent of bank failures is revealed, a large chunk of investment is freed to go elsewhere in search of profits. Japan's exceedingly low interest rates don't make Japan attractive for interest bearing investments. Tonight Japanese markets open for the last day of March... stay tuned! Nikkei charts: web.kyoto-inet.or.jp

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