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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Paul V. who wrote (24984)	10/7/1998 1:54:00 AM
From: Paul V.	Respond to of 70976

Big Bucks, Gottfried and All, Following is an article from the Wall Street Journal Site. October 7, 1998 Stock Prices Rise in Asia; Bank Hopes Boost Tokyo An INTERACTIVE JOURNAL News Roundup Asian-Pacific share prices were sharply higher in early trading Wednesday. Tokyo stocks advanced 2.9% on the increased possibility that guidelines for recapitalizing weak but viable banks would be approved during the current parliamentary session, and on expectations for fresh economic-stimulus measures from the government. The Nikkei average of 225 issues was up 379.42 at 13401.06 in early trading. Meanwhile, an overnight recovery in Europe's equities markets, which occurred amid expectations that European countries would follow Spain's lead and cut interest rates, cheered Hong Kong investors. But despite the early gains in Hong Kong, analysts said trading was light as many investors opted to remain out of the market until Hong Kong Chief Executive Tung Chee-hwa delivers a speech later in the day. Malaysian equities gained ground following Tuesday's remarks by the country's economics minister that the economy is showing signs of a recovery. South Korean stocks were supported by the yen's rise against the U.S. dollar. At midsession in Tokyo, the dollar was quoted at 130.05 yen, down from 130.18 yen late Tuesday in New York. The dollar bought 134.50 yen on Monday in New York. The yen's rise also boosted Manila's issues. The Taiwan Stock Exchange Weighted Index climbed 1.3% on a technical rebound following Tuesday's 1.3% drop. Australian shares rose, driven higher by substantial gains in the bank and resources sectors. Elsewhere, Singapore's Straits Times Index moved above the 900-point level on optimism that interest rates would head lower. Bullishness in other major Asian-Pacific equities markets pushed Jakarta and Bangkok's share prices sharply higher. A stronger rupiah also lent support to Indonesian issues. China's Class B shares were mixed. Some local institutional investors picked up bargains, while others dumped shares that gained ground in recent weeks on expectations that China would cut interest rates. India's Bombay and National stock exchanges are scheduled to open later in the day. In dollar terms, the Asia-Pacific sector of the Dow Jones Global Indexes rose 1.51 to 63.89 Tuesday after falling 0.63 Monday. The Dow Jones World Stock Index gained 2.58 to 162.95, after shedding 2.61 the previous session. Asian Stock Market Indexes Market Index 11:30 p.m. Change Australia All Ordinaries 2509.40 + 0.73% China DJ China 88 128.65 - 0.10% Hong Kong Hang Seng 7679.94 + 1.53% India Bombay Sensex 2919.74* + 1.45% Indonesia JSX Index 262.969 + 1.88% Japan Nikkei 13401.06 + 2.91% Malaysia KLSE Composite 379.95 + 1.47% Philippines PSE Index 1208.49 + 3.28% Singapore STI 905.41 + 1.56% S. Korea Korea Composite 311.47 + 1.04% Taiwan Weighted 6620.61 + 1.32% Thailand SET 255.31 + 2.89% * -- Previous Close Return to top of page \| Format for printing Copyright © 1998 Dow Jones & Company, Inc. All Rights Reserved.