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To: The Duke of URL© who wrote (130556)	3/21/2001 2:10:31 AM
From: tejek	Respond to of 186894

As of the time of this post the jun nsdq is trading at +5.5 and the e-nasdaq at +5.0 I saw that...it may be due to the Nikkei's reaction to the US Fed cut [see below]. At least someone appreciates the cut!! ____________________________________________________________ Nikkei soars 7% on lower rates Tokyo hits two-year high; other Asian markets fall By Bill Clifford & Vivian Chu, CBS.MarketWatch.com Last Update: 1:54 AM ET Mar 21, 2001 TOKYO (CBS.MW) - Shares of Japanese banks, automobile and technology companies rallied Monday, sending Tokyo's stock market higher one day after the U.S. Federal Reserve cut interest rates. The Nikkei Average soared 7.49 percent, or 912.97 points, at 13,103.94, its biggest percentage gain since Nov. 17, 1999. The Topix index of all shares on the Tokyo Stock Exchange's first section rose for a fourth day, gaining 75.80, or 6.3 percent, to 1275.41. Bond prices staged their biggest rally in nearly two years after the Bank of Japan cut interest rates to near zero percent on Monday. The benchmark ten-year bond rose 1.065 to 103.443 as their yields fell 11.5 basis points to 1.045 percent, their biggest drop since April 1999. In currency dealing, the greenback strengthened to 122.90-93 yen at the Tokyo market close, compared to 122.10-13 at the open. In New York late Tuesday, the dollar fetched 122.19 yen. Japanese bank shares rallied following the Bank of Japan's dramatic about-face on Monday to opt for a "quantitative" easing by targeting an increased level of bank reserves at the central bank. The move should effectively restore zero interest rates in Japan and lower borrowing costs for banks and by extension companies and consumers. Shares of volume leaders Sakura Bank soared 11.8 percent to 637 yen and Tokai Bank (TOKBF) gained 2.3 percent to 450 yen. Shares of Nissan Motor (NSANY) , the volume leader, rose 4.3 percent to 855 yen. On Monday, Nissan announced it would pay its first dividend to shareholders in three years. Shares of Toyota (TM) soared 6.7 percent to 4,650. Honda (HMC) advanced 5.5 percent. Shares of leading PC and semiconductors makers - NEC (NIPNY) , Fujitsu (FJTSY) and Hitachi (HIT) - all ended up over 7 percent Mobile phone giant NTT DoCoMo (NTDMY) jumped 9 percent to 2.18 million yen a share, after UBS Warburg lowered its target price for DoCoMo to 2.8 million yen from 4.3 million yen, reported Reuters. But shares of video game maker Nintendo (NTDOY) fell 2.4 percent to 20,890. On Wednesday, its hotly hyped Game Boy Advance hit stores in Japan, and most sellers sold out of the video game within hours, reported Reuters.