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To: TobagoJack who wrote (2925)	12/30/1999 1:31:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6018

Jay,...The Japanese puzzle me too at times...and I am Japanese myself <G>. Then again, my wife puzzles me and She too is Japanese. My inexpert opinion is that the Japanese trading limits are much like the "circuit breaker" limits on the market imposed here in the United States. I believe they are intended to limit wild speculative price swings and provide time to settle down. I suppose the fixed, round number limit is for clerical convenience so that human observers could apply the limits in a convenient fashion. In a computerized age, a 10% limit above the previous close could be imposed on all stocks, but we are still limited by the tendency to stick with tradition. BTW, Frankfurt closed at only $938 but the current quotes her in the US are $955 bid and $975 asked. With at least another day of Frankfurt and US trading, I suppose we could see the magic $1000/share in 1999 even though we won't see 100,000 yen in Tokyo until next year.