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

To: StanX Long who wrote (64064)	5/29/2002 1:34:13 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Asian Stocks: Japan's Sony, Exporters Fall; Korea, Taiwan Drop By Michael Tsang quote.bloomberg.com Tokyo, May 29 (Bloomberg) -- Japanese stocks declined after a smaller-than-expected rise in April industrial production damped confidence exports will lead the economy out of recession. Sony Corp. and other companies that rely on overseas sales fell. The Nikkei 225 stock average shed 0.6 percent to 11,870.58, while the Topix index dropped 0.3 percent to 1127.93. U.S. reports on personal spending and consumer confidence also suggested a rebound in their biggest market is slowing. ``I am not expecting a full-fledged recovery anytime soon'' in Japan, said Katsuaki Furutachi, who manages $1.6 billion at Asahi Life Asset Management Co. If the U.S. economic outlook ``worsens, then the recovery scenario collapses and there's no hope'' for exporters. The U.S. economic reports sent regional markets lower. South Korea's Kospi Index slumped 2.3 percent, led by Samsung Electronics Co., while Asustek Computer Inc. pushed Taiwan's TWSE Index down 1 percent. DBS Group Holdings Ltd. led Singapore's Straits Times Index down 0.9 percent, while HSBC Holdings Plc helped drag Hong Kong's Hang Seng Index 0.5 percent lower.