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To: Dealer who wrote (40223)	8/14/2001 3:44:35 AM
From: Sully-	Read Replies (1) \| Respond to of 65232

Tokyo stocks jump nearly 4 percent on BOJ easing Tuesday August 14, 3:36 am Eastern Time TOKYO, August 14 (Reuters) - Tokyo's key Nikkei share average jumped nearly four percent on Tuesday for the biggest percentage gain since April, cheered by the central bank's surprise easing which prompted hefty gains in banks and heavy borrowers. The benchmark Nikkei average shot up 3.84 percent or 440.39 points to 11,917.95, snapping a four-day losing streak that had sent it to a 16-year low in the previous session. Mizuho Holdings , the world's largest bank by assets, fired up by its daily limit of 50,000 yen or 11.01 percent to 504,000, boosted by the Bank of Japan's (BOJ) announcement in the afternoon that it would raise current account deposits at the BOJ to six trillion yen ($49 billion) from five trillion. The BOJ will also expand its monthly purchases of long-term Japanese government bonds to 600 billion yen from 400 billion. The moves, seen as an attempt to kick-start an economy teetering on the edge of recession, met tenuous approval by market players. ``The BOJ's decision was a positive surprise and has lessened the short-term downside risk. We should be in for a short-term bounce,'' said Hideki Kamiya, fund manager at Asahi Tokyo Investment Trust Management, which oversees 388.24 billion yen of investment trusts. But action by the BOJ alone is not enough, added Kamiya. ``This won't change my investment strategy. For a sustained recovery we need much more from the policy front, such as a clearer vision of how the bad-loan problem will be resolved and a lightening of the tax burden on investors. Moreover, it's very unclear if this money will even reach the real economy.'' Relatively sparse participation because of the summer holiday season exaggerated the market's ascent, traders said. On the first section of the Tokyo Stock Exchange, 595.89 million shares changed hands. The figure was greater than Monday's 451.40 million -- the thinnest volume this year -- but below 632.22 million last Tuesday. Advancers outpaced decliners 1,042 to 280. UPSIDE RISK The capital-weighted TOPIX index (^TOPX - news) firmed 2.72 percent or 31.77 points to 1,198.86, its biggest one-day jump since May 1 when the broader yardstick gained 3.31 percent amid high hopes for reforms from Prime Minister Junichiro Koizumi, who took office in late April. Some analysts saw the bank's decision to ease as the product of increased political pressure and drew optimism from signs Koizumi may be gaining a more solid footing for his pledged reforms. ``It's too early to see the light at the end of the tunnel, but I think that particularly from a foreign perspective this might be an early indicator Koizumi is beginning to exert his influence on the powers that be -- which is what we've all been hoping,'' said Marc Desmidt, director of the Japanese equity team at Merrill Lynch Investment Managers, which manages 628.81 billion yen of investment trusts. ``Under this leader, the risk has to be on the upside in the short-term.'' Mycal Corp rocketed up 33.33 percent to 120 yen as investors eyed lower borrowing costs for the ailing retailer and continued to cheer news earlier that its main creditor bank was mulling extending it about 50 billion yen in extra loans. Struggling builders also firmed, with Fujita Corp rising 6.45 percent to 33 yen and Tobishima Corp up 6.52 percent to 49. Major brokerages gained ground amid hopes the BOJ's easier stance would help stocks recover. Nomura Securities Co Ltd , the nation's number-one broker, jumped 10.2 percent to 2,215. ADVANTEST, TECHS ADVANCE Semiconductor testing device manufacturer Advantest Corp shot up 8.81 percent to 8,520 yen, erasing all of Monday's 7.45 percent drubbing after its stunning profit revision announced late last week rattled investor confidence in Japan's tech sector. Techs also drew buying interest on a 1.32 percent rise in the U.S. Nasdaq index (^IXIC - news), traders said. Major PC and chipmaker Fujitsu Ltd spurted 7.22 percent to 1,232 yen, while Toshiba Corp -- the country's number-one chip producer -- added 4.03 percent to 620. biz.yahoo.com

To: Dealer who wrote (40223)	8/14/2001 4:06:21 AM
From: Sully-	Read Replies (3) \| Respond to of 65232

EBay , AOL extend marketing pact-WSJ biz.yahoo.com NEW YORK, Aug 14 (Reuters) - EBay Inc. and AOL Time Warner Inc. plan to announce a new 3-year agreement on Tuesday, under which eBay will advertise on AOL print and television properties, rather than just the online services associated with America Online, the Wall Street Journal online edition reported. Financial terms are not being disclosed, the report said. EBay has had a close relationship with America Online since 1997, but AOL's purchase of Time Warner Inc. last year made it possible for the combined company to offer opportunities for advertisers to reach both Internet and traditional media properties, such as People and Time magazines, the report noted. The report also said that Microsoft Corp. (NasdaqNM:MSFT - news) has become a bigger force in the online world, targeting AOL, and in March announced its own alliance with eBay and will integrate the auctioneer's services on several of Microsoft's online sites. EBay in 1999 agreed to pay $75 million to promote its auction site to America Online users, the report said. The newspaper also said that in May, eBay tested advertising on AOL's Turner Broadcasting Network, including the CNN, TBS and TNT cable channels, during a four-week period and was happy with the traffic it generated. EBay's new pact with AOL extends eBay's original four-year online advertising agreement for an additional year, the report said. According to the report, Bill Cobb, senior vice president of global marketing for eBay, said the two companies will explore ways to promote eBay from within AOL's online properties. The report also said EBay has also extended an agreement with AOL, under which AOL sells Web advertising on the eBay site.