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

To: StanX Long who wrote (62310)	3/25/2002 1:08:21 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Tokyo stocks decline on weakness in tech issues By Demetri Sevastopulo in Tokyo Published: March 25 2002 03:41 \| Last Updated: March 25 2002 03:43 news.ft.com Technology issues in Tokyo followed the lead of their US counterparts last week and closed the morning session lower on Monday. The Nikkei 225 average slipped 83.97, or 0.7 per cent, to 11,261.11 while the broader Topix index fell 4.34, or 0.4 per cent, to end morning trade at 1,072.29. Losses in technology shares offset the boost Heizo Takenaka, Japan's economy minister, gave to bank stocks when he suggested that the government might consider tax cuts. The electrical machinery sector index declined 1.9 per cent. Sony declined 2.6 per cent to Y6,750, NEC slumped 4.2 per cent to Y1,111 and Sharp slid 2.1 per cent to Y1,754. Toshiba bucked the trend, rising 0.7 per cent to Y571 as it continued to benefit from optimism surrounding its semiconductor alliance with Fujitsu. Bank stocks rose 2.1 per cent on expectations that the government might announce tax cuts before the end of the fiscal year, which ends March 31. Mitsubishi Tokyo gained 2.3 per cent to Y830,000, Mizuho rose 2.7 per cent to Y305,000, SMBC advanced 2.7 per cent to Y530 and UFJ jumped 5.8 per cent to Y311,000. Automakers slipped, which pushed the transport equipment sector index down 0.8 per cent. Honda Motor slid 0.4 per cent to Y5,430, Mitsubishi Motor slipped 1.7 per cent to Y293 and Toyota Motor dropped 1.1 per cent to Y3,720. Nissan Motor, which last week posted a six-year high on positive sales figures for its new subcompact model, rose 0.4 per cent to Y925.