Ramsey
31-07-2002, Wed 9:16 AM
عن دواوجونز نيوزواير
ASIAN SUMMARY: Profit-Taking Hits Shares, Dollar Weakens
USD-Yen 119.88 loss 0.33 dn 0.3%
AUD-USD 0.5469 gain 0.0034 up 0.6%
Nikkei 225 9837.46 loss 166.26 dn 1.6%
Hang Seng 10183.18 gain 27.93 dn 0.3%
TOKYO (Dow Jones)--Tokyo stocks dropped on profit-taking Wednesday after two-straight sessions of gains. The Nikkei followed Wall Street's lead as investors locked in profits from the healthy gains the past two sessions.
Jittery foreigners were absent from the market despite calmer currency movements and positive first-quarter high tech earnings.
In currency dealing, the dollar slipped below Y120 after Tuesday's rally against the Japanese currency and others appeared to run out of steam. In Asia, a major player was said to selling early in the day to defend options with a strike price at Y120.50. It is currently testing Y120 again due to options buying, however.
Japan government bonds were higher as players welcomed the potential retention of full protection on some types of Japan bank deposits beyond April, which traders say would make it easy for banks, which had built up liquidity on hand in case of sudden erosion of funds, to buy bonds.
The lead 10-year futures are up 0.10 at 139.09, while the 5-year cash yield is down 1 basis point at 0.415%, but 10-year cash JGBs weren't being quoted.
ASIAN SUMMARY: Profit-Taking Hits Shares, Dollar Weakens
USD-Yen 119.88 loss 0.33 dn 0.3%
AUD-USD 0.5469 gain 0.0034 up 0.6%
Nikkei 225 9837.46 loss 166.26 dn 1.6%
Hang Seng 10183.18 gain 27.93 dn 0.3%
TOKYO (Dow Jones)--Tokyo stocks dropped on profit-taking Wednesday after two-straight sessions of gains. The Nikkei followed Wall Street's lead as investors locked in profits from the healthy gains the past two sessions.
Jittery foreigners were absent from the market despite calmer currency movements and positive first-quarter high tech earnings.
In currency dealing, the dollar slipped below Y120 after Tuesday's rally against the Japanese currency and others appeared to run out of steam. In Asia, a major player was said to selling early in the day to defend options with a strike price at Y120.50. It is currently testing Y120 again due to options buying, however.
Japan government bonds were higher as players welcomed the potential retention of full protection on some types of Japan bank deposits beyond April, which traders say would make it easy for banks, which had built up liquidity on hand in case of sudden erosion of funds, to buy bonds.
The lead 10-year futures are up 0.10 at 139.09, while the 5-year cash yield is down 1 basis point at 0.415%, but 10-year cash JGBs weren't being quoted.