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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: jr_not_ewing who wrote (729)	4/1/2000 1:08:00 AM
From: Don Green	Respond to of 48804

BOJ Intervention Expected Monday To Stem Yen Rise Saturday, April 1, 2000 TOKYO (Nikkei)--Japanese monetary authorities are likely to step in the foreign exchange market and sell yen for dollars Monday if the Japanese currency's meteoric appreciation continues unabated, government sources said Saturday. Yen buying will likely gain momentum following the release of the Bank of Japan's tankan business confidence survey, which is expected to point to a self-sustaining domestic economic recovery. The quarterly survey is due out at 8:50 a.m. Monday, JST. Both the Ministry of Finance and the Bank of Japan want to prevent a strong yen from nipping the recovery in the bud. Japan will ask the U.S. and Europe to make the currency issue a main subject of debate when the Group of Seven finance ministers and central bankers meet in Washington on April 15, the sources said. The G-7 meeting is likely to address the yen's strength and the euro's weakness. In New York, the dollar briefly dipped as low as 102.03 yen Friday, a year-to-date low, and the euro fell to 97.55 yen. The euro's fall below 100 yen has spurred buying yen for the European currency, which in turn led to buying yen for the greenback. The BOJ has intervened in the forex market three times this year: Jan. 4, March 8 and March 15. The interventions last month were believed to have been aimed at preventing the dollar from slipping below 105 yen. Thus, the dollar's current exchange rate has raised alarm among market players. The BOJ intervention also came in June 1999, when the yen sharply strengthened following the release of the January-March GDP report that showed a marked improvement. The BOJ is likely to take a similar step Monday to prevent expectation of a higher yen from spreading. (The Nihon Keizai Shimbun Saturday evening edition)

To: jr_not_ewing who wrote (729)	11/20/2000 9:50:17 PM
From: $Mogul	Read Replies (3) \| Respond to of 48804

Japan's stock prices opened sharply lower Tuesday morning 8:20 PM ET Nov 20, 2000 NewsWatch TOKYO (CBS.MW) - Japan's stock prices opened sharply lower Tuesday morning after besieged Prime Minister Yoshiro Mori managed to survive a no-confidence motion with a last minute talk, but disappointed investors who had expected changes in the country's politics. Biotech Stocks: Sellers rule The Nikkei Average dropped 1.41 percent, or 204.71 points, to 14,326.94, shortly after the open. The broader TOPIX was down 1.32 percent at 1,352.92 points. Political disorder also fueled selling of Japanese currency as investors worry that Mori's cabinet has been made even more unstable by the chaos within the ruling Liberal Democratic Party. The dollar climbed to an 8-month high of 110.35 yen in New York after Mori overcame the opposition challenge. It later pared some gains and was trading recently at 109.65 yen, still higher compared with 109.13 yen quoted late Monday in Tokyo. In the stock market, investor sentiment was also badly beaten after U.S. markets fell overnight, with the Nasdaq dropping 5 percent to its lowest close since October last year. Shares of Toshiba tumbled 3.7 percent to 732 yen and those of Fujitsu Ltd. (FJTSY: news, msgs) lost 3.4 percent to 1,722 yen. Shares of Nippon Telegraph and Telephone (NTT: news, msgs) saw its shares fall 1.1 percent to 916,000 yen. Broad-based shares faced selling in South Korea, where the benchmark Kospi dropped 1.61 percent to 528.76 points in early morning. The country's main opposition party on Monday launched a boycott of the National Assembly, delaying legislation including a bill for 40 trillion won in public funds needed for financial sector reforms, according to Reuters. The news slashed banking shares. Shares of Shinhan Bank Co. (SHBSF: news, msgs) tumbled 6.2 percent to 11,250 won and Cho Heung Bank (CHGBY: news, msgs) fell 5.8 percent to 2,755 won. Among technology and telecommunication sectors, shares of Samsung Electronics Ltd. (SSNGY: news, msgs) sank 5.3 percent to 152,500 won and those of SK Telecom Ltd. (SKM: news, msgs) were down 2.4 percent to 259,500 won.