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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: TWICK who wrote (32228)	7/12/2000 3:15:22 AM
From: TWICK	Respond to of 50167

RPT-Tokyo stocks dip, Yahoo-inspired gains short-lived Tuesday July 11, 9:55 pm Eastern Time RPT-Tokyo stocks dip, Yahoo-inspired gains short-lived TOKYO, July 12 (Reuters) - Tokyo stocks fell by mid-morning, led by technology issues such as Softbank, as early gains on surprisingly high second-quarter earnings from U.S. Internet portal giant Yahoo Inc (NasdaqNM:YHOO - news) proved short-lived. The benchmark Nikkei average fell 129.88 points or 0.74 percent to 17,374.48 by 0115 GMT while the broader and capital-weighted TOPIX index (^TOPX - news) dipped 6.32 points or 0.39 percent to 1,604.64. Internet investor Softbank Corp fell 6.61 percent to 11,300 yen. ``The Nasdaq will probably rebound tonight because of Yahoo and investors started factoring that in at the start, but there wasn't enough follow-through buying in high-tech and Internet shares,'' said Katsuhiko Kodama, head of equities at Toyo Securities. ``Softbank's poor performance is especially weighing on sentiment.'' Traders said investors who had bought Softbank shares before a share-split adjusted February peak of 66,000 yen on margin were rushing to realise losses before a six-month deadline. Softbank is the biggest shareholder in Yahoo, with a 22.58 percent stake, and holds 51 percent in Yahoo Japan , its Japanese affiliate which nudged 0.27 percent higher to 37.3 million yen etc, etc, biz.yahoo.com