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To: Maurice Winn who wrote (17640)	11/3/1998 9:50:00 PM
From: 2brasil	Respond to of 152472

===ot Nikkei up 3.26% at midday on Morgan Stanley move TOKYO, Nov 4 (Reuters) - Tokyo's Nikkei average soared more than three percent by midday on Wednesday, as sentiment turned bullish on news that Morgan Stanley Dean Witter's top global investment strategist Barton Biggs had raised his Japan equity weighting, traders said. Gains in overseas markets for the past two days also encouraged Tokyo, they said. The 225-share Nikkei average was up 3.26 percent or 455.48 points at 14,408.23. December Nikkei futures were 440 points higher at 14,440. Tokyo markets were closed on Tuesday for a national holiday. ''Biggs' comment boosted buying orders by foreign investors, which played a big role in the market,'' said Hiroshi Arano, general manager of the investment trust management department at Dai-Ichi Kangyo Asahi Asset Management Co Ltd. Biggs said in global strategy comments issued on November 2: ''I am increasing my Japan weighting to 75 percent of the index weight from 40 percent and funding the addition by reducing cash and selling some European equities, particularly Germany.'' The news prompted aggressive purchases by foreign investors. Before Wednesday's session opened, they placed as many as 40.2 million shares worth of buy orders through 11 foreign securities houses, against 21.9 million sell orders. (Note: this article is ''in progress''; there will likely be an update soon.) Related News Categories: US Market News Help Copyright © 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments?