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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Cactus Jack who wrote (43255)	10/14/2001 11:09:16 PM
From: Dealer	Read Replies (1) \| Respond to of 65232

Asia Markets Earnings jitter slashes Tokyo stocks By Mariko Ando, CBS.MarketWatch.com Last Update: 8:55 PM ET Oct 14, 2001 TOKYO (CBS.MW) -- Tokyo stocks opened lower Monday morning, hit by a wave of loss warnings from Japan's leading technology companies. Shortly after the open, the Nikkei Average lost 144.33 points, or 1.4 percent, to 10,488.02. The broader TOPIX dropped 1.8 percent to 1,068.35. A fresh wave of downward earnings revisions announced after the market closed on Friday prompted investors to lock in gains after the Nikkei gained nearly 667 points during the last two straight days. Matsushita Electric Industrial (MC) lost 2.9 percent to 1,532 yen. The world's largest consumer electronics maker late Friday lowered its forecast for the six months ended Sept. 30 to a loss of 68 billion yen from the previous estimate of a 45 billion yen loss. See full story. See full story. Advantest, Japan's top maker of semiconductor-testing devices, said it expects a loss of 5 billion yen for the 12-month period ending next March 31. The company has previously projected a profit of 4 billion yen. Advantest's shares were untraded amid overwhelming sell orders. Market sentiment was also weak after growing fears spurred by the wave of anthrax infections reported in the United States. On Wall Street, the Nasdaq dropped as much as 3 percent on Friday following the latest anthrax reports, but top tech stocks later recovered and ended up 0.1 percent at 1,703.40. The Dow lost 0.70 percent to 9,344.16. In South Korea, the benchmark Kospi fell 0.9 percent to 511.99 points by early morning. Australia's All Ordinaries Index dropped 0.9 percent at 3,129.20 in the early session. In the currency market, the dollar fetched at 121.06 yen in morning Tokyo trading, little moved from 121.02 yen in New York late Friday.