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Strategies & Market Trends : Position Trading Forum
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To: patton who wrote (4614)10/29/1998 12:32:00 AM
From: Tim Luke  Read Replies (5) of 7247
 
Thursday October 29, 12:04 am Eastern Time
Tokyo stocks bit lower, blue chips under pressure
TOKYO, Oct 29 (Reuters) - Tokyo stocks shed early gains to trade slightly weaker in mid-afternoon trade on Thursday, as major electrical exporters such as Sony and Hitachi were under selling pressure, traders said.

But bank shares retained a firm tone amid expectations a number of banks will apply for public funds to shore up their capital bases, keeping the Nikkei average from sliding further, they said.

At 0459 GMT, the benchmark Nikkei average was down 76.06 points or 0.56 percent at 13,440.01. December Nikkei futures were down 110 at 13,450.
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