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To: Ruffian who wrote (48408)	11/8/1999 12:12:00 AM
From: T L Comiskey	Read Replies (1) \| Respond to of 152472

Ruff..... Sunday November 7 11:42 PM ET Nikkei Down As Microsoft Fears Hit Tokyo SINGAPORE (Reuters) - Asian stock markets were for the most part confined to subdued ranges Monday, but Tokyo dipped amid concern an antitrust ruling against Microsoft Corp (Nasdaq:MSFT - news) could hit Wall Street. The Nikkei average was down 0.4 percent at 18,278.87 by 0406 GMT. December S&P futures fell 13.60 points to 1371.00. ``A decline in S&P futures this morning (in Tokyo) raised worries that Microsoft may hurt the whole U.S. stock market tonight,' said Masatoshi Sato, manager at Kankaku Securities. The dollar was supported around 106 yen retaining its momentum after Friday's October payrolls report suggested U.S. inflationary pressures were under control. Hong Kong stocks were up 0.8 percent to 13,723.31 by 0402 GMT after a robust response to the government's Tracker Fund and as a respite from interest rate fears boosted sentiment. The government's index-linked Tracker Fund unit trust, which closed for subscriptions last week, received applications from retail investors for about three times the HK$10 billion targeted. ``If it wasn't for Microsoft, it's very likely the Hang Seng Index could break 13,800,' said Ben Kwong, associate director at KGI Asia Ltd. Door Slammed On Windows Traders feared a negative impact on Wall Street after a U.S. federal judge ruled Friday that the software juggernaut used its monopoly power to harm consumers and competition. The ruling came just a week after Microsoft joined the Dow 30. The Dow closed up 0.6 percent at 10,704.48 Friday. Australia's share market was down one percent by 0355 GMT to 2892.2 after the Reserve Bank of Australia raised concerns of additional interest rate rises, and the prospect of Wall Street weakness prompted further selling. South Korean stocks edged 0.4 percent higher to 917.07 by midday on foreign buying, but its upward momentum was weakened on profit-taking after last week's surge, brokers said. New Zealand shares drifted 0.4 percent lower to 2,055.73 in quiet Monday trade. Taiwan's TAIEX closed up 0.3 percent to 7,395.02. Jakarta stocks extended last week's rally, boosted by hopes of better third quarter results and the return of funds from overseas. The composite index was up 0.6 percent to 629.485 by 0347 GMT, but dealers said trading was volatile amid thin volume. Thailand's main index was flat by 0352 GMT. The Philippine 33-share main index closed off 1.5 percent at 1,988.55, after tumbling past immediate support of 2,000. Stock markets in Singapore, Malaysia and India were closed Monday for the Hindu Diwali festival of lights.