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Non-Tech : MBK---------Bank of Tokyo Mitsubishi Ltd
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To: JBINWC who wrote (109)11/12/1998 3:29:00 PM
From: JBINWC  Read Replies (1) of 170
 
is this why? from CBS Mktwatch -

Japan's Nikkei 225 index plunged 2.45 percent, or 352.96 points to 14,075.06 as the market registered its deep disappointment over the outline of the Liberal Democratic Party's stimulus package. In Hong Kong, the Hang Seng index lost 1.87 percent or 189.14 points at 9,948.18.There were, in fact, no surprises in the stimulus package -- precisely what traders and investors found so disappointing. Most are worried that unless Japan is willing to take an ultra-aggressive approach to tax cuts, banking reform, and other fiscal stimulus measures, the ruling LDP has no hope of resuscitating the economy.
Ken Wattret, senior economist at Paribas Capital in London, said: "Japanfaces a credibility problem. The impression is that the [package] will have no impact on the economy."
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