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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
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To: TokyoMex who wrote (2661)8/31/1998 1:59:00 AM
From: MoneyMade  Read Replies (2) of 119973
 
Tokyo stocks shed some gains on missile report

LOL...MoneyMade the supernatural psychic, wait till everyone
wakes in the AM. "Black Monday"

TOKYO, Aug 31 (Reuters) - Tokyo stocks remained higher in
mid-afternoon trade on Monday, but had given up part of their
gains as media reports that North Korea had fired a ballistic
missile toward the Sea of Japan briefly stunned the market,
traders said.

Jiji and Kyodo news agencies said Japan's Defence Agency was quoting U.S. military in Japan on
the launch, saying it took place around noon Japan time (0300 GMT).

At 0510 GMT, the key Nikkei 225 average was up 164.64 points or 1.18 percent at 14,080.27.
Nikkei September futures were 360 points higher at 14,100.

Traders said that the impact of the report was short-lived.

Stocks had gained ground on short-covering, which was accelerated by news that Sakura Bank Ltd
(8314.T) planned to boost its capital base, traders said.

The recovery was also supported by signs that Russia's political turmoil may stabilise, they said.
Russia's political leaders on Sunday signed a compromise agreement to redistribute political power
among the president, parliament and government. sure they did...

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