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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (58468)	1/7/2002 3:35:27 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Asian markets back in black in afternoon January 7, 2002 Posted: 12:21 AM EST (0521 GMT) cnn.com Taiwan's market is showing the strongest gains on Monday, but most of Asia is shrugging off earlier selling By staff and wire reports HONG KONG, China -- Asian stocks moved higher again heading into Monday afternoon, with Japan and Korea bouncing back from early losses. Taiwan is showing the strongest gains in the region, though, on tech buying. In Tokyo, the Nikkei index is up 0.49 percent at 10,924.31 as afternoon trade gets under way. The index went into the noon break down 0.08 percent. The Topix is down but narrowly, posting a loss of 0.04 percent at 1,053.59. It was down 0.44 percent at noon. Bank stocks propping Tokyo But bank stocks have been propping up the market, after Japan's government said it would step in with support if banks faced a crisis. Mizuho Holdings, the largest bank in the world by assets, is up 6.5 percent at 278,000 yen at the noon break. UFJ Holdings, Japan's No. 4 bank, is up 5.86 percent at 307,000 yen. Isuzu went into the lunch break up 5.48 percent at 77 yen, after General Motors said it will make every effort to stave off bankruptcy for the truckmaker. It said Isuzu's banks were going to help "tremendously" to prevent bankruptcy. The yen is trading at 130.89 against the dollar.