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

To: StanX Long who wrote (61051)	2/28/2002 12:39:35 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Yen Rises vs Dollar as Japanese Stocks Surge, Increasing Demand By Mari Murayama 02/28 00:19 quote.bloomberg.com Tokyo, Feb. 28 (Bloomberg) -- The yen had its biggest two-day gain in more than two weeks on expectations a government proposal will help lift equity prices, prompting a surge in Japanese stocks which boosted demand for the currency. Japan's currency strengthened to 133.88 per dollar from 134.28 in New York yesterday for a two-day gain of 0.6 percent. It also climbed to 115.70 per euro from 116.27. The Nikkei 225 stock average surged for a second day to a seven-week high. ``Stocks' good performance heightened expectations foreign investors are putting their money into Japanese assets,'' said Noriaki Ebisui, who helps oversee about $7 billion at Sakura Investment Management Co. ``That will boost the yen.'' The currency has been rallying with stocks, helped by a government plan issued yesterday that proposed making it tougher for investors to bet share prices will fall. The yen was also helped by Haruhiko Kuroda, Japan's vice finance minister of international affairs, who yesterday said the currency is not likely to fall quickly.