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To: Sarmad Y. Hermiz who wrote (68727)	7/22/1999 12:26:00 AM
From: GST	Respond to of 164684

Trouble brewing: Nikkei down 2%, below 18,000 by midday on high yen TOKYO, July 22 (Reuters) - Tokyo's benchmark Nikkei 225 average fell by exactly two percent by midday on Thursday as investors, nervous about a higher yen, dumped high-tech shares that led the market's recent rally, traders said. ''The yen/dollar factor is weighing heavily on everyone's minds. There has been a lot of profit-taking, especially from foreigners in high-techs and blue chips,'' said a trader at Daiwa Securities America. The Nikkei average fell below 18,000 yen in mid-morning for the first time since July 12. The Nikkei average lost 365.59 points or 2.00 percent to 17,891.93. September Nikkei futures <0#JNI:> fell 370 points to 17,890. The yen was trading at 118.17/25 against the U.S. dollar at 0210 GMT. Blue chips were hit heavily by profit-taking after their recent sharp rises and by selling sparked by the negative impact on them from the yen's rise, traders said.