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

To: fut_trade who wrote (1094)	6/10/1998 1:41:00 AM
From: fut_trade	Read Replies (1) \| Respond to of 3902

Late Taiwan stocks sink to 1998 low TAIPEI, June 10 (Reuters) - Taiwan share prices sank to a 1998 low in late Wednesday trade with selling pressure intensifying following the Taiwan dollar's dramatic dip to 11-year lows, brokers said. At 0300 GMT, index had fallen 153.40 points or 2.06 percent to 7,302.23 -- a 1998 low. Turnover was moderate at T$66 billion. Shortly after 0300 GMT the Taiwan dollar dropped to an 11-year low T$34.829 to the U.S. dollar. In early trade, the Taiwan unit had rebounded to T$34.681 after the yen firmed overnight against the greenback. * Chris Hsieh, analyst, Nomura Securities: ''The market is bathed in a very negative environment full of bearish news. ''The government's stimulus measures don't seem to be working, the Taiwan dollar is falling and many companies' May sales figures are worst-than-expected. "How can investors be positive?" Hsieh asked. * Plastics tumbled 4.56 percent. * Trend-setting electronics were down 1.88 percent. * Microchip powerhouse Taiwan Semiconductor Manufacturing Co (2330.TW) -- a closely watched market barometer -- was down T$4 to T$103. Taiwan Semicon said on Tuesday that although its May sales rose an annual 29.6 percent to T$4.056 billion, this was a 10.4 percent fall from the April level of T$4.525 billion. --------------------------------------------------------------------------------

To: fut_trade who wrote (1094)	6/10/1998 9:26:00 AM
From: chirodoc	Respond to of 3902

<<<<I see what happened to Japan -- and is still happening -- is that Japan is losing domestic and foreign market due to too much "world-wide" capacity ........on the brighter side--deregulation is starting and many financial stocks are on fire. merril lynch, morgan stanley, fidelity, citicorp etc report HUGE inflows and profits. .......this spring we deregulate the telecom sector ......in july we have elections. hashimoto might resign. .......assuming a new government ( with or without hasimoto) takes power and deregulates more and makes tax cuts permanent, we will have the bottom. .......now: buy merril, goldman, and citicorp if you want to invest in japan. if you like risk buy nomura. i have not bought yet--but am looking closely. curtis