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

To: Gottfried who wrote (62034)	3/14/2002 12:15:55 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Asian Stocks: Japan Falls, Led by Honda; Korea, Taiwan Decline By Michael Tsang 03/13 23:10 quote.bloomberg.com Tokyo, March 14 (Bloomberg) -- Japanese stocks fell after U.S. retail sales lagged expectations and Federal Reserve Chairman Alan Greenspan said consumer spending alone won't drive a recovery in the nation's biggest export market. Honda Motor Co. and other companies that rely on U.S. sales dropped. ``With the worse-than-expected U.S. retail figures and Greenspan's comments, investors are inclined to be more cautious,'' said Hiromichi Tsuyukubo, who helps manage about $650 million at Tokyo-Mitsubishi Asset Management Ltd. The Nikkei 225 stock average fell 0.3 percent to 11,382.76. The Topix index shed 0.7 percent to 1068.64. Automakers as a group were the biggest drag on the market. Chipmakers such as NEC Corp. dropped after J.P. Morgan Securities Inc. cut its earnings forecast for industry leader Intel Corp. Chipmakers in Korea, Taiwan and Singapore also slid. South Korea's Kospi index lost 1.7 percent, while Taiwan's TWSE Index shed 1.1 percent. Singapore's Straits Times Index slid 0.4 percent.