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To: Alex who wrote (15251)	8/3/1998 11:40:00 PM
From: Lalit Jain	Read Replies (1) \| Respond to of 116764

Japan Posts Min says opposes stocks manipulation TOKYO, Aug 4 (Reuters) - Japan's Posts and Telecommunications Minister Seiko Noda reiterated on Tuesday that no ruling party should manipulate stock prices to protect its power. ''I am of the strong opinion that no ruling party should use its position to manipulate equity prices,'' she said at a news conference following a regular cabinet meeting. Noda made similar comments last week after assuming her new position. The remarks, interpreted by traders as signalling an end to government ''price-keeping operations'' in the stock market, partly contributed to a slide in Tokyo's benchmark Nikkei average. Part of the money collected by Japan's massive postal savings and life insurance systems is managed by the ministry itself, while part is entrusted to the Ministry of Finance, a posts ministry spokesman said. Noda said she had no problem with the current investment policies of the posts ministry's part of those funds. The spokesman said the ministry currently manages 45 trillion yen in savings money and 100 trillion yen in insurance money. Part of that total is invested through the Ministry of Finance in the stock market, he added. *************************************************** Is this happening in the US too? Also note that Japan's Ministry of Finance manages about $1 trillion. So much paper money floating around! Regards, Lalit Jain