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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (46819)	4/16/2000 8:26:00 PM
From: Steve K	Respond to of 99985

Sunday April 16 8:20 PM ET Nikkei Falls More Than 4% in Early Trade TOKYO (Reuters) - Tokyo stocks quickly fell more than four percent in early trading on Monday as record losses in U.S. stocks prompted investors to sell their shares for cash, traders said. On the Tokyo Stock Exchange, the first major market to open after U.S. stocks plummeted on Friday, the benchmark Nikkei average (^N225 - news) fell 871.47 points or 4.26 percent to 19,563.21 at 0015 GMT. After a sharp drop of almost 10 percent on the technology-heavy Nasdaq composite index (^IXIC - news) on Friday, high-tech and Internet shares came under especially heavy selling. ``Even before Friday's New York tumble, some IT (information technology) issues like Softbank Corp (9984.T) and Oracle Corp Japan (4716.Q) had been in a correction phase. These shares are especially vulnerable to the New York drop,' said Kunihiro Hatae, an equities general manager at Tokyo Securities.