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 (64210)	6/5/2002 2:24:25 AM
From: StanX Long	Read Replies (2) \| Respond to of 70976

Asian Stocks: Japan Rises, Led by Sony, Chugai; S. Korea Gains By Tomoko Yamazaki quote.bloomberg.com Tokyo, June 5 (Bloomberg) -- Japanese stocks rose, led by Sony Corp., after the central bank yesterday sold yen for a fourth time in two weeks to keep the currency from strengthening, preserving the value of exporters' overseas sales. ``Investors are happy that the government seems to be making an effort to keep the yen from strengthening,'' which is boosting demand for exporters, said Katsuaki Furutachi, who manages $1.6 billion at Asahi Life Asset Management Co. The Nikkei 225 stock average rose 0.7 percent to 11,738.96, while the Topix index gained 0.6 percent to 1124.79. Chugai Pharmaceutical Co. had its biggest gain this year after Roche Holding AG yesterday offered to pay more than it previously offered to gain control of the Japanese drugmaker. Indexes in South Korea, Taiwan and Singapore advanced, tracking the Nasdaq Composite Index's 1 percent gain and rising chip prices. Australia & New Zealand Banking Group Ltd. led the S&P/ASX 200 Index higher after Salomon Smith Barney Inc. raised its rating on the lender. Japan's Sony, which relies on the U.S. for more than a quarter of its sales, climbed 2 percent to 7,020 yen. Bridgestone Corp., whose North American sales account for 45 percent of group revenue, added 2.8 percent to 1,830 yen. Analysts estimate Japan sold about $19 billion of yen over the last two weeks, boosting the value of exporters' overseas sales. The yen recently traded at 124.21 per dollar.