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

To: StanX Long who wrote (64000)	5/24/2002 3:03:43 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hang Seng edges higher on recovery hopes Friday May 24, 2:08 PM sg.news.yahoo.com HONG KONG (Reuters) - Hong Kong stocks were slightly higher by midday on Friday, lifted by gains in export-driven blue chips and property issues on renewed hopes for an export-driven recovery in the territory's economy later this year. But the market's gains were capped by losses in China's top personal computer maker Legend Group following disappointing full-year results and worries over slowing sales growth. The benchmark Hang Seng Index was 0.23 percent higher at 11,651.48 by the midday break with HK$4.02 billion (US$515 million) worth of shares changing hands, below Thursday's midday turnover. Shares of selected property developers got a boost from comments by Hong Kong's richest tycoon Li Ka-shing that his property flagship Cheung Kong (Holdings) is ready to bid for land in government auctions, indicating to some investors his confidence in the territory's moribund real estate sector. Shares of developers Henderson Land, New World Development and Hysan Development were up between 1.7 percent and 2.42 percent. "The local market has been the beneficiary of overseas fund flows in recent weeks, and the weaker U.S. dollar is helping to alleviate some of the deflationary fears," said Alex Wong, research director at OSK Asia Securities. The U.S. dollar, to which the Hong Kong currency is pegged, has weakened against the Japanese yen over the last week, despite a slight firming of the dollar early on Friday. A weak U.S. dollar against the yen makes Hong Kong's exports relatively cheap compared to those from Japan.

To: StanX Long who wrote (64000)	5/27/2002 9:53:06 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Japanese Stocks Fall; UFJ, Mizuho, Banks Decline as Sony Drops By Michael Tsang quote.bloomberg.com Tokyo, May 28 (Bloomberg) -- Japanese stocks fell, led by banks such as UFJ Holdings Inc., on concern the government may not push through reforms to help lenders write off bad loans as public support for Prime Minister Junichiro Koizumi declines. ``Banks still have their bad loan problems that investors will be reminded of if the government doesn't push to help solve them,'' said Tatsuyuki Kawasaki, an equities manager at Kaneyama Securities. Computer-related shares slumped as investors shifted funds from companies that depend on U.S. sales to smaller domestic- related stocks that may benefit from an economic recovery. The Nikkei 225 stock average fell 63.18, or 0.5 percent, to 11,913.17. The Topix index slipped 4.49, or 0.4 percent, to 1127.44, with banks the index's biggest group decliners.