Ramsey
05-08-2002, Mon 9:40 AM
عن دواوجونز نيوزواير
ASIAN SUMMARY: Tokyo Shares Drift While Taiwan's Fall
USD-Yen 119.20 gain 0.29 up 0.3%
AUD-USD 0.5390 gain 0.0002 up 0.04%
Nikkei 225 9690.93 loss 18.73 dn 0.2%
Hang Seng 9936.46 loss 55.26 dn 0.6%
JGB Yield 1.2800% down 0.02
TOKYO (Dow Jones)--Tokyo stocks were drifting Monday, resisting somewhat Wall Street's plunge on Friday.
Some morning bargain-hunting brought the Nikkei index back from early lows.
In currency dealings, the dollar fell against the yen during morning trading in response to discouraging prospects for the U.S. economy.
The euro was traded at 117.00 yen, down from 117.46 yen late Friday in Tokyo.
The yield on the benchmark 10-year Japanese government bond fell to 1.2800%, from 1.3000% the previous session. Its price rose 0.17 point to 100.17.
Reiterating a more flexible stance on pump-priming steps, Prime Minister Junichiro Koizumi said Monday there is no need to fund tax breaks in the same fiscal year the breaks are implemented.
"There's no need to get hung up on one year, we just need to think about fiscal responsibility over several years," he said.
Koizumi added that he couldn't comment on the amount or the duration of the tax cuts, saying the debate on such reforms had just started.
Taiwan's share market fell as China on Monday accused Taiwan's leader of trying to "split China" with recent comments on the island's political future, and said pursuing formal independence would "bring Taiwan into disaster."
The statement by the mainland's Taiwan Affairs Office didn't mention any specific steps planned by Beijing in response to recent comments by President Chen Shui, who this weekend said both sides are countries
ASIAN SUMMARY: Tokyo Shares Drift While Taiwan's Fall
USD-Yen 119.20 gain 0.29 up 0.3%
AUD-USD 0.5390 gain 0.0002 up 0.04%
Nikkei 225 9690.93 loss 18.73 dn 0.2%
Hang Seng 9936.46 loss 55.26 dn 0.6%
JGB Yield 1.2800% down 0.02
TOKYO (Dow Jones)--Tokyo stocks were drifting Monday, resisting somewhat Wall Street's plunge on Friday.
Some morning bargain-hunting brought the Nikkei index back from early lows.
In currency dealings, the dollar fell against the yen during morning trading in response to discouraging prospects for the U.S. economy.
The euro was traded at 117.00 yen, down from 117.46 yen late Friday in Tokyo.
The yield on the benchmark 10-year Japanese government bond fell to 1.2800%, from 1.3000% the previous session. Its price rose 0.17 point to 100.17.
Reiterating a more flexible stance on pump-priming steps, Prime Minister Junichiro Koizumi said Monday there is no need to fund tax breaks in the same fiscal year the breaks are implemented.
"There's no need to get hung up on one year, we just need to think about fiscal responsibility over several years," he said.
Koizumi added that he couldn't comment on the amount or the duration of the tax cuts, saying the debate on such reforms had just started.
Taiwan's share market fell as China on Monday accused Taiwan's leader of trying to "split China" with recent comments on the island's political future, and said pursuing formal independence would "bring Taiwan into disaster."
The statement by the mainland's Taiwan Affairs Office didn't mention any specific steps planned by Beijing in response to recent comments by President Chen Shui, who this weekend said both sides are countries