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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: Professor Dotcomm who wrote (1935)	6/23/1999 1:07:00 AM
From: borb	Read Replies (1) \| Respond to of 3902

Is it late to buy Heng Seng now?

To: Professor Dotcomm who wrote (1935)	6/23/1999 4:06:00 AM
From: Step1	Read Replies (1) \| Respond to of 3902

INTERVIEW-Putnam to trim its Japan weightings Weathermen will never be unemployed. THe weather changes everyday and while some of it is predictable, and to some extent, repeats with fairly good frequency, it will not make forecasters obsolete. Weather changes and it always need to be reevaluated. Sort of a long paraphrase to say that, in light of the latest news release, maybe failing to achieve my 17800 close was significant although I had almost thrown in the towel and put my bear paws back in the (top) drawer for easy access on short notice. The last rally was sparked by a comment by Barton Briggs about how there was now reasonable value to be had in J stocks (around the 13,000 level I think) and we ran. Then came the GDP numbers and we woke up and ran some more. This last release by Putnam may throw some water on the flames though. On a personal level, after 6 days of advances as of yesterday, I went short at 17640, with much doubt in my mind though, perhaps more for the thrills, but today, may bring a short recess in our advances and tomorrow , I don't know, but most likely down on the back of a down close in HKG and a pale DOW. I must admit that I did say the 18,000 level was almost insured although I am considerably less sure at this point. In any case, I put my money where my mouth was, I am mid term bearish and went short. All disclaimers apply, you 'd be crazy to trade on my recommendations, this is a web board meant for discussions, not financial advice. biz.yahoo.com TOKYO, June 23 (Reuters) - U.S.-based investment management firm Putnam Investments Inc said on Wednesday it plans to reduce the weighting of Japanese stocks in its portfolios as Japan's economy is still flagging despite recent strong data. ''We're looking to reduce our weighting (of Japanese stocks) a little bit from where they've been up until now,'' Tim Ferguson, senior managing director and head of investments at Putnam, told Reuters Television on Wednesday. Putnam, which handles about $316 billion in investment and pension funds worldwide, had raised its weighting in Japan stocks to nearly neutral for the fourth quarter of last year and the beginning of this year. Like many institutional investors, Putnam had been heavily underweighted in Japanese stocks through much of the 1990s. But despite Japan's surprisingly strong growth data for the January-March period, Ferguson was cautious. ''We feel that the first quarter GDP number was probably an aberration,'' he said. ''We expect it (growth) to continue to be negative in the year 2000.'' ''So from the macroeconomic point of view, we still remain very cautious,'' he said. Earlier this month, Japan's Economic Planning Agency said Japan's GDP (gross domestic product) grew a robust 1.9 percent in the January-March quarter from the quarter before, which surprised the market and boosted Japan stocks. (Note: this article is ''in progress''; there will likely be an update soon.)