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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (2917)	12/30/1999 1:25:00 AM
From: Edwin S. Fujinaka	Respond to of 6020

Jay et al,...Thanks to All for a terrific Board on Softbank. Very little hype and a lot of objective information. For the record, Softbank closed in the US at $930 and up the limit in Tokyo at 97,800 Yen or $958 at the Fourex Exchange rate. That marked the last trading in Tokyo for 1999, but I guess we will have Europe and another day and 1/2 here in the US. Schwab's Global Desk will be open on January 1 and 2 so perhaps we should call and wish them a nice new year. Kinda like the previous year <G>. Nikkei Net posted this comment: Thursday, December 30, 1999 Tokyo Buying Stays Focused On High-Priced Stocks TOKYO (Nikkei)--As the year draws to a close, buying on the Tokyo Stock Exchange continues to focus on high-priced shares trading at 10,000 yen or more while mid- to low-priced stocks come under selling pressure. The average price of TSE first-section issues traded Tuesday set a new year-to-date high of 2,746 yen. The average trading price, which tends to go up as buying of expensive stocks turns more active, fell back to 2,625 yen Wednesday but still came in at the second-highest point for the year. Twenty-eight issues hit new all-time highs on Wednesday, with 20 priced at a minimum of 10,000 yen. "Given the small number of participants ahead of year-end, money is concentrating on a select few high-priced stocks, and that is pushing up the average trading price," said an analyst at Nomura Securities Co. Investors kept snapping up technology shares on Wednesday. Sony Corp. (6758) rose 2,000 yen -- the maximum price movement allowed by the TSE -- to close at an all-time high. Softbank Corp. (9984), meanwhile, hit its price movement ceiling of 5,000 yen, ranking as the top first-section issue in terms of the yen value of shares traded that day. "The announcement that Sony would conduct a stock split prompted expectations that other high-priced issues would be split," said Yutaka Miura of New Japan Securities Co. Mid- to low-priced shares, by contrast, were hit with selling by dealers adjusting their positions and institutional investors reshuffling their portfolio holdings. A number of investors say it will not be easy to widen their buying focus because the rate of economic recovery remains low. "Buying will remain focused on a select group of high-priced stocks in the first half of 2000 as well," said Yasuhiro Kato at Dai-ichi Mutual Life Insurance Co. (The Nihon Keizai Shimbun Thursday edition) -------------------------------------------------------------------------------- Corporate Profiles: SONY(6758) SOFTBANK(9984) Copyright 1999 Nihon Keizai Shimbun, Inc., all rights reserved.