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

To: Edwin S. Fujinaka who wrote (5090)	5/10/2000 3:33:00 AM
From: Edwin S. Fujinaka	Respond to of 6018

Foreigners net sellers in Japanese stocks in April: Tuesday, May 9, 2000 Foreigners' April Net Sale Of Japan Stocks Hits 10-Yr High TOKYO Nikkei)--Foreign investors sold a net 846.2 billion yen worth of shares in April on the first and second sections of the stock markets in Tokyo, Osaka and Nagoya, the Tokyo Stock Exchange announced Tuesday. The figures represented the highest net selling by overseas investors since February 1990, a month that saw a 1.03 trillion yen net sell-off. April was the first month of net selling since September 1998. The Nikkei Stock Average recorded the year's low on Tuesday, closing down 355.42 at 17,844.54. The plunge was attributed to selling by foreign investors as well as by securities companies seeking to square their own positions. NTT DoCoMo Inc. (9437), the most traded first-section issue in terms of value, for instance, fell 170,000 yen to 3.69 million yen. Overseas investors have, in particular, begun recently to sell information and communications stocks for profit-taking. Apart from NTT DoCoMo, Sony Corp. (6758) and Softbank Corp. (9984) were also sold heavily, according to foreign stock brokers at which overseas investors tend to place orders. Recent instability in U.S. stock markets and a weaker yen are also pushing foreign investors to sell. "Selling of Japanese stocks by foreign investors may rise further, due to poor performance of Japanese stocks in dollar terms, if the dollar continues to get stronger," an official at HSBC Securities Japan Ltd. said. "Many U.S. investors I have met recently were a little bearish toward Japanese stocks. An increasing number of such investors have begun to point out delays in restructuring and other reforms at Japanese companies. Some of them have also started to shift from Japanese stocks to European ones," Masatoshi Kikuchi, a senior strategist at Daiwa Institute of Research, said. An official at a foreign investment trust company said, "We are reluctant to buy major stocks because profit-taking by foreigners is expected to continue unless the U.S. markets stabilize." (The Nihon Keizai Shimbun Wednesday morning edition)

To: Edwin S. Fujinaka who wrote (5090)	5/10/2000 11:00:00 AM
From: Edwin S. Fujinaka	Read Replies (2) \| Respond to of 6018

I put in a buy order at $218 yesterday while Schwab had their "indication" of a $215 bid and a $245 asked. My instructions were to execute overnight in Japan or in the US. The overnight low in Tokyo was 22,980 yen which translated to $209.94. At 10:30 am EDT I have not received a confirmation and the Schwab Global broker says that it may not be posted for a couple of hours yet. He also did not guarentee execution since they operate on a "best effort" basis. When trading in Tokyo, there is an additional expense that is somewhere between 1-1/2% and 2-1/2%, some of the Schwab guys just say 2%. (The Schwab commission on these Softbank trades might be around 0.2%). Even if we figure 2-1/2% in additional expenses, the low of $209.94 would only require $215 so my $218 trade should have been executed. We'll see. I did get into a little discussion of the current US $215 "bid" since I wondered why my actual $218 bid didn't show up. My Schwab Global broker didn't seem to understand my question, but what's $3 anyway? <G>. Actually $300 on a trade of a round lot of Softbank is far more than the commission that Schwab will make on a Softbank trade.