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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
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To: The Street who wrote (3244)9/5/1998 1:14:00 PM
From: TokyoMex  Read Replies (1) of 119973
 
Saturday September 5, 3:58 am Eastern Time
Japan finmin sees possible Japan stock recovery
The source said that the United States was not necessarily negative towards the yen's rise, but added that Rubin was unable to say that America's strong dollar policy had changed.

He said the U.S. and Japanese authorities had not discussed foreign exchange levels in their talks here on Friday.

But he added: ''I don't know why the yen has strengthened this much the last week or two, but the correction has started and I hope the correction will continue.''

The source also said that Rubin's comment that he shared Japan's concern about the yen's weakness ''has some significance.''

Another Japanese government source said that U.S. officials had expressed concern that a 13 trillion yen fund for recapitalisng Japanese banks might not be sufficient and wanted to know when public money would actually be put to use.

Earlier this year Japan enacted a 30 trillion yen financial stabilIsation fund including 17 trillion to protect depositers, 13 trillion to recapitalise banks.

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