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: chirodoc who wrote (1206)	6/30/1998 9:33:00 AM
From: fut_trade	Read Replies (1) of 3902

Japan govt may look into politicians' stock buys TOKYO, June 30 (Reuters) - The Japanese government may investigate reported purchases by some parliamentarians of stocks in firms related to a plan to stabilise Japan's economy and its banking system, a government spokesman said on Tuesday. Responding to a newspaper report on the stock buying, Deputy Chief Cabinet Secretary Fukushiro Nukaga told a news conference: ''I didn't think that Diet (parliament) members couldn't trade in stocks. Given the news report, however, I think it necessary (for the government) to check facts.'' The Asahi Shimbun reported on Tuesday that five legislators, including a minister in Prime Minister Ryutaro Hashimoto's ruling Liberal Democratic Party (LDP), bought stocks of banks and construction companies last year at a time when the government was studying using public funds to help strengthen the capital bases of banks. Three opposition parliamentarians made similar share purchases, the newspaper said. Stock analysts have speculated that if there was an injection of public funds into the banks their shares could gain significantly.

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