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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (1620)	5/21/1998 7:10:00 AM
From: cool	Read Replies (1) of 13094

Japan Steel Exports [ Business \| US Market \| Industry \| IPO \| S&P \| International \| PRNews \| BizWire \| Finance Home ] Thursday May 21, 5:29 am Eastern Time Japan steelmakers see exports to Asia falling TOKYO, May 21 (Reuters) - Japanese steelmakers said on Thursday they expect exports to other parts of Asia to fall significantly in the current business year due to the region's economic turmoil. ''We expect a significant fall in steel exports to South Korea, Thailand and Indonesia in 1998/99 and the fall may have a fairly big negative impact on earnings,'' Kawasaki Steel Corp said in a statement. Sumitomo Metal Industries Ltd said that the volume of its steel exports to Southeast Asia sharply fell in the 1997/98 business year and that it expects exports to shrink further this business year, particularly those to Thailand and Indonesia. Kobe Steel Ltd said the volume and the value of exports from its various business divisions to Asia were on the decline. In order to cope with the fall, Kobe Steel said it is trying to maintain product prices and boost exports to other markets. Kobe said its affiliates in Thailand and Malaysia are considering increases in the prices of their products, a boost in exports to other countries and postponement of capital investment. Sumitomo said that some of its units in Southeast Asia are facing tough times but their poor performances are likely to have a limited impact on Sumitomo's group earnings as their business sizes are small. Related News Categories: US Market News, international

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