Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: StanX Long who wrote (62481)	3/29/2002 1:26:26 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Asian Stocks: Japan Falls, Led by Banks; Korean Exporters Gain By Tomoko Yamazaki quote.bloomberg.com Tokyo, March 29 (Bloomberg) -- Japanese stocks fell, led by banks such as Mizuho Holdings Inc., after an official said the government isn't considering additional measures to boost the stock market. The Nikkei 225 stock average fell 0.8 percent to 11,242.77, while the Topix index lost 0.4 percent to 1078.06. Companies with large index weightings fell on concern government funds won't support share prices on the last day of the fiscal year. Japanese companies, including the nation's troubled banks, must declare the value of their shareholdings based on today's closing prices. ``The government is not doing enough to alleviate the market's concerns about banks,'' said Dai Nishiyama, who helps manage about $8.5 billion at SG Yamaichi Asset Management Co. Meanwhile, ``the market always gets its hopes up that government- related funds will boost the market on the last day of the fiscal year, but it usually ends in disappointment.'' In other markets, South Korea's Kospi index rose 0.8 percent, led by Samsung Electronics Co. and other exporters, after the U.S. said fourth-quarter gross domestic product grew at its fastest annual pace in a year. Taiwan's TWSE Index dropped 0.5 percent, led by companies in the Formosa Plastics Group, on a report China is investigating some polyvinyl chloride makers to determine whether they sold their products on the mainland at below cost. Markets in Australia, New Zealand, Hong Kong, Singapore, the Philippines and India are closed for a public holiday. In Japan, banks made up more than a quarter of the Topix's decline after Financial Services Ministers Hakuo Yanagisawa said Japan isn't considering additional measures on the stock market. Regulators last month tightened short-selling rules and scrutinized traders who sold borrowed shares since December, efforts that make up part of a larger policy to contain deflation. As a result, the Nikkei rebounded from an 18-year low, limiting stock losses at Japan's banks, which are embedded with about 37 trillion yen in bad loans.