JAPAN-Nikkei-Time to go back up? Message Board

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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up?

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To: Lucretius who wrote (859)	4/3/1998 1:16:00 AM
From: chirodoc	Read Replies (2) of 3902

we may see 14K or lower if the bureaucrats don't wake up--yen could hit 150 if we don't have more dereg and tax cuts....... Friday April 3, 12:46 am Eastern Time Tokyo stocks fall in late afternoon on yen's fall TOKYO, April 3 (Reuters) - Tokyo stocks were sharply lower in late afternoon trade on Friday after the dollar briefly rose to 135 yen, brokers said. At 0530 GMT, the key 225-share Nikkei average was down 1.46 percent or 229.77 points at 15,473.13. Brokers said news on Friday morning that Moody's Investors Service had downgraded the outlook for Japan's sovereign credit rating would not directly impact the stock market. But they said they would closely watch its impact on bonds and the yen. Brokers said that the market believes the weakening of the yen and bonds may prompt foreign investors to sell yen-denominated assets including stocks. Nikkei June futures were down 260 at 15,520. The shock caused in the morning session by Moody's announcement had subsided in the afternoon, brokers said. Many investors retreated to the sidelines in the afternoon session as they wanted to see how financial markets abroad would react to Moody's announcement, brokers said.

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