Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: T-Lo Greens who wrote (71352)	10/11/1998 10:54:00 PM
From: TechMkt	Respond to of 176387

Sunday October 11, 10:30 pm Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) Tokyo stocks stage powerful rally amid bank hopes TOKYO, Oct 12 (Reuters) - Tokyo stocks staged a powerful rally on Monday morning, rising more than four percent by midday after weekend reports that the government was seeking as much as 67 trillion yen to support the banking system. Stability in New York stocks and the dollar/yen rate also contributed to equity enthusiasm that swept up almost every sector. The benchmark Nikkei average rose 570.54 points, or 4.43 percent, to close the morning at 13,450.51. Nikkei December futures rose 590 to 13,460. Over the weekend, local newspapers reported that the administration of Prime Minister Keizo Obuchi would seek the gigantic package to stabilise a banking sector creaking under as much as 87 trillion yen in problem loans. The news boosted the spirits of traders, who have crticised the government for not addressing the problem with appropriate speed or gravity. The proposed package, they said, may be an effort to convince doubting Thomases of their resolve to deal with a problem that is in part responsible for dragging the world's second-largest economy into recession.