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

To: StanX Long who wrote (62546)	4/1/2002 4:04:11 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Asian Stocks: Japan's Topix Falls, Led by Mizuho; Korea Drops By Michael Tsang quote.bloomberg.com Tokyo, April 1 (Bloomberg) -- Japan's Topix index fell, paced by Mizuho Holdings Inc. and other banks, after a survey of business confidence suggested the world's second-largest economy may not emerge from 17 months of recession as soon as expected. The Topix shed 0.6 percent to 1053.46 while the Nikkei 225 stock average added 0.03 percent to 11,028.70 on the first day of the new fiscal year. Canon Inc. and other exporters rose after a gain in U.S. consumer spending reinforced improving prospects for their biggest overseas market. Exporters made up four of the Topix's five biggest advancers. ``Exporters are a safer haven as a U.S. recovery is a lot more apparent relative to the rest of the world,'' said Shuichi Hida, who helps manage $1.2 billion at Sanyo Investment Trust Management Co. In other markets, South Korea's Kospi index dropped 2.2 percent, led by Samsung SDI Co., as investors judged its 67 percent gain last month fully reflects expectations profit at the nation's largest maker of computer monitors will rebound this year. Taiwan's TWSE Index rose 0.3 percent, while Singapore's Straits Times Index fell 0.3 percent. Hong Kong, Australia and New Zealand are closed today for the Easter holiday. Japan's banks and other companies that do most of their business at home fell as the Bank of Japan's survey of business conditions underscored the fragility of the nation's recovery.