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

To: ahhaha who wrote (935)	4/22/1998 11:24:00 PM
From: chirodoc	Read Replies (1) \| Respond to of 3902

Wednesday April 22, 7:29 pm Eastern Time TOKYO STOCKS - Factors to Watch - April 23/RPT TOKYO, April 23 (Reuters) - The following are some of the main factors which may influence stock trading in Tokyo on Thursday: Tokyo's key Nikkei stock average is expected to move in a range of 15,550 to 15,950, with many investors retreating to the sidelines ahead of the expected announcement on Friday of the government's economic stimulus package, brokers said. Officials from the ruling Liberal Democratic Party (LDP) said on Wednesday that the Japanese cabinet is likely to approve the package on Friday evening, possibly around 6.30 p.m. (0930 GMT) at the earliest. OUTLOOK ''Tokyo stocks will move in a narrow range. Persistent futures selling is likely to continue to dampen sentiment in the cash market, while pension funds will buy shares at lower prices,'' Tokyo Securities general manager Kunihiro Hatae said. LDP officials said on Wednesday that economic ministers and cabinet members would meet to approve the pump-priming package on Friday evening, after parliamentary committees finish their sessions. Japanese media said that a government meeting to discuss revisions to the fiscal reform law, to which investors have also been paying close attention, has been postponed to Friday. Investors originally expected the meeting to be held on Wednesday night but it was postponed to Thursday before being postponed again to Friday. Prime Minister Ryutaro Hashimoto is expected to propose an amendment of the law, which stipulates tight fiscal spending, at the meeting but Japanese daily Yomiuri Shimbun said Hashimoto would need some more time to mediate opinions from different ministries. Investors believe that the outcome of the meeting should indicate whether or not the package would include permanent income tax cuts, which the market has said would be necessary for Japan's economic recovery. .........WITHOUT PERMANENT TAX CUTS, WATCH FOR NIKKEI SELL-OFF