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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Stephen who wrote (33484)	3/29/2002 10:37:49 AM
From: Paul Shread	Read Replies (2) \| Respond to of 52237

When do Japanese banks actually mark-to-market? This article suggests that it might not be till next week, after prices are settled for the fiscal year just ended: TOKYO MARKS TO MARKET The March quarter close was key for the Tokyo market as banks must now report much lower market prices their large stock holdings, rather than book value. But hopes the rally would continue through Friday to further window dress shareholding figures were dashed by February industrial output data that showed weaker than expected growth. Top banks were hit hard in the quarter's final session with the world's largest bank by assets, Mizuho Holdings <8305>, closing down 4.4 percent. The banking sector index ended the day down 2.9 percent. The year-end was also a factor in the Japanese government bond market, as a few were seen adjusting their positions before the fiscal witching hour and the rest staying out of the thin market. The yield on the cash 237th 10-year JGB rose one basis point to 1.400 percent. "Most people have pretty much set their positions going into the new fiscal year so there really isn't much meaning in trading on the last day," said a Japanese bank dealer. sg.biz.yahoo.com Got that article from Singapore, because it looks like Reuters Japan wasn't publishing last night.