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

To: StanX Long who wrote (62061)	3/14/2002 1:32:21 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Nikkei slips lower by mid-session By Demetri Sevastopulo in Tokyo Published: March 14 2002 01:18 \| Last Updated: March 14 2002 04:51 markets.ft.com A loss warning by Furukawa Electric and sluggish US markets overnight helped nudge Tokyo shares lower in Thursday morning trade as investors sold technology-related stocks. The Nikkei 225 average declined 32.55, or 0.3 per cent, to end the morning session at 11,382.76 and the broader Topix index fell 7.06, or 0.7 per cent, to 1,068.64. Furukawa Electric, Japan’s largest fibre-optic cable manufacturer, dropped 6 per cent to ¥657 on news that weak telecom demand meant it would post a group net loss of 2.6 billion yen for the current year. The non-ferrous sector index fell 2.6 per cent by midday. Sumitomo Electric, which has seen two consecutive daily declines, plunged a further 3.9 per cent to ¥890. Technology issues slid on the overnight decline in Nasdaq. NEC fell back 1 per cent to ¥1,067 and Japan Telecom dropped 2.8 per cent to ¥418,000. Bank shares slid on concerns that recent declines in Tokyo shares would increase the banks’ stock portfolio losses at the end of the current financial year ending in March 31.