Jon- this is all I could find on Japan in Reuters. Doesn't seem to justify the panic you are talking about. Maybe somewhere else?
Reuters, Sunday, July 26, 1998 at 20:31
TOKYO, July 27 (Reuters) - Tokyo stocks opened moderately
lower on Monday, weighed down by losses in Japanese stock
futures in Chicago on Friday, brokers said.
But market participants were in general reluctant to move
actively, waiting for the selection of Japan's new cabinet
members later this week, they said.
As of 0007 GMT, the Nikkei 225 average was down 148.25
points or 0.91 percent to trade at 16,213.64. Nikkei September
futures stood 90 points lower at 16,180.
On Friday, Nikkei 225 September futures traded in Chicago
closed at 16,125, down 145 points from their close in Osaka on
the same day.
News that AT&T Corp and British Telecommunications on
Sunday launched a $10 billion global venture raised concern
that competition in the telecom industry will heighten,
weighing down shares in some Japanese telecom companies.
At 0019 GMT, Nippon Telegraph and Telephone Corp (TOKYO:9432)
was down 20,000 yen at 1,220,000. Kokusai Denshin Denwa Co Ltd
(TOKYO:9431) was down 200 yen at 4,980.
tokyo.equities.newsroom@reuters.com)) |
