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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: Rex Dwyer who wrote (679)	1/17/1998 2:53:00 AM
From: chirodoc	Respond to of 3902

Friday January 16, 1:00 pm Eastern Time Wall St. stocks rally by midday after Japan soars By Huw Jones NEW YORK, Jan 16 (Reuters) - Wall Street stocks rallied by midday Friday, showing relief at sharp, overnight gains in Japanese stocks and on other Asian bourses. Double-witching -- expiry of stock options -- added fuel to the opening upsurge, and may kick in again with further volatility near the close, analysts said. ''Stocks got a boost from the surge in the Japanese market and rally in Hong Kong. The feeling now, at least for today, is that the worst is over maybe for Japan as well,'' said Michael Metz, chief investment strategist at CIBC Oppenheimer. At 1206 EST/1706 GMT, the Dow was up 86 points at 7778. The S&P500 index gained 12.53 points to 963.28. Advances beat declines by more than three-to-one in heavy volume of 330 million shares. The Nasdaq was up 14.22 points at 1561.28. The Russell 2000 index of smaller stocks gained 3.82 points to 425.57. The long bond was off 21/32 to yield 5.79 percent. Japan's Nikkei stock index, closed Thursday for a public holiday, soared by 6.11 percent to close above the key 16,000 points level at 16,046.45. The battered Nikkei rallied, and the dollar was capped against the yen on hopes that Japan will take more steps to stimulate its economy, the world's second biggest after the United States. Japan's rally spurred Asian bourses higher, with Hong Kong's Hang Seng Index up 3.74 percent, Indonesia up 6.89 percent, and created a domino effect in Europe. The FTSE100 index in London ended up 1.88 percent at 5263.1. On Wall Street, there was also an absence of big name earnings reports to upset investors ahead of the long weekend. The stock market is closed Monday for Martin Luther King day. ''Today's trading activity is being driven by solid earnings reports, relief from Asia, and the double-witching,'' said Tony Dwyer, chief market strategist at Ladenberg Thalmann.

To: Rex Dwyer who wrote (679)	1/17/1998 2:57:00 AM
From: chirodoc	Respond to of 3902

OK FOLKS--IT IS STOCK PICKING TIME!!!!! even if this is a dead cat bounce, it looks as if herbert hoover hasimoto may be changing his ways. i just made 25% on my small investment in korea in the last week--yes i know it could evaporate but this could be the bottom--so says barton biggs. if this is true time to pick our favorite stocks and why. i personally like sony SNE because it is the worlds most recognized brand, sells mostly outside asia and is diversified in many facets of entertainment and electronics and has western style management. anybody else have a favorite japanese stock that will make us money? btw, look at sony's chart during the japanese recession for the last 8 years.....not bad!!