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

To: StanX Long who wrote (61986)	3/13/2002 12:51:47 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Government pledge to buy shares buoys Nikkei By Demetri Sevastopulo in Tokyo Published: March 13 2002 01:15 \| Last Updated: March 13 2002 04:48 news.ft.com Tokyo's Nikkei 225 edged higher in morning trade Wednesday on news that the Japanese government would increase the allocation of pension assets invested in domestic shares for the coming financial year beginning in April. The Nikkei 225 average edged higher 14.13, or 0.1 per cent, to end the mid-session at 11,621.46, while the broader Topix index slipped 5.78 or 0.5 per cent to 1,092.78. The Government Pension Investment Fund plans to invest another Y9,000bn in financial markets in fiscal 2002 with Y1,700bn to be placed in domestic issues. Pessimistic forecasts from Nokia and Lucent Technologies, which pushed the Nasdaq lower overnight in the US, sent Japan's communication sector down 1 per cent. NTT fell 1.6 per cent to Y504,000 and NTT DoCoMo declined 0.6 per cent to Y1.66m. Japan Telecom slid 4 per cent to end the morning session at Y430,000. The electrical appliances sector declined 1 per cent as Toshiba declined for a second consecutive day, falling 4.4 per cent to Y525. Furukawa, Japan's largest fibre-optic parts manufacturer, was also hit by Lucent Technologies' poor sales forecast, falling back 5.3 per cent Y718 for its second consecutive decline. Exporters gained from yen weakness with Toyota rising 1.3 per cent to Y3,780 and Honda advancing 1.3 per cent to