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

To: StanX Long who wrote (62352)	3/26/2002 1:57:30 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

CORRECTED - CORRECTED-Yen claws back as Nikkei offers reprieve Reuters, 03.26.02, 1:24 AM ET forbes.com In TOKYO story headlined "FOREX-Yen claws back as Nikkei offers reprieve " please read in second paragraph ....133.02/12 .... instead of ....113.02/12 (correcting figure). A corrected story follows. By Chisa Fujioka TOKYO, March 26 (Reuters) - The yen snapped a three-session losing streak against the dollar on Tuesday, helped by Tokyo stocks, which logged morning gains despite falls on Wall Street. Volume was sluggish and moves were choppy as Tokyo players kept trading to a minimum before the end of the fiscal year on March 31. Dealers estimated that volume was down to nearly three-quarters of normal trade as the dollar faded to 133.02/12 yen in Tokyo from 133.37 in late New York. Tokyo's Nikkei stock average climbed 1.25 percent to 11,401.34 in morning trade, with bank shares helped by a court ruling against a Tokyo metropolitan council tax on bank profits. The U.S. Dow dropped 1.40 percent overnight. "The Nikkei's gains are making it hard to be selling the yen for the day, though that doesn't mean there's any aggressive buying going on, either," said Noriyuki Kato, head of foreign exchange sales at ING Barings. The dollar was bogged down by profit-taking ahead of options-related resistance at 133.50 and modest selling interest from Japanese exporters. Technicals were also stretched since it has risen more than five percent in just three weeks.