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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (14592)	11/28/2002 1:42:25 PM
From: Challo Jeregy	Read Replies (1) \| Respond to of 57110

BOJ to kick off stock buying, seen boosting mood Thursday November 28, 4:45 am ET By Tamawa Kadoya TOKYO, Nov 28 (Reuters) - The Bank of Japan will kick off a scheme on Friday to buy stocks directly from banks -- a move expected to give sentiment a boost but probably not by enough to have much of an impact on a market hovering near 19-year lows. The BOJ has said the purpose of the scheme, which shocked financial markets when it was announced in September, is to reduce banks' vulnerability to stock market fluctuations and not to boost stock prices or provide more liquidity to the markets. The BOJ has said it will buy two trillion yen ($16.3 billion) worth of shares from banks up to the end of September 2003. It will hold the shares until at least September 2007 and complete their salef via the market by the end of September 2017. biz.yahoo.com