I vaguely recall before the end of the year the Intl. Monitoring guy reported to congress about Japan being suspect. When he even ask the senators if their was any press in the room. From what this guy said about Japan one would have thought it was over. but others reported to Congress on C-span before the fact and I'm suspect that these guys may have been justifying their paychecks. Maybe not we will see tomorrow when the other big markets open.

-- d.......... (dciinc@aol.com), January 03, 2000

Answers

Watch CNBC. They said Japan is doing great after being open for only 20 minutes. So far same as everyone else.

-- William R. Sullivan (wrs@wham.com), January 03, 2000.

Not sure if this answers your question, but Sydney and Tokyo have both opened for the first time this year -- Sydney currently slightly down, Tokyo slightly up. Looks like they're just doing their thing.

-- Ned Raggett (ned@kuci.org), January 03, 2000.

Mon Jan 3 7:49pm ET - U.S. Markets Closed.

Japan Nikkei 30676.919 +2.039 +0.30%

Not sure this 100% accurate.

-- the Virginian (1@1.com), January 03, 2000.

Japanese Stocks Mixed; Fujitsu Gains After Few Y2K Problems; Banks Fall By Yukiko Takai

Japanese Stocks Mixed; Fujitsu Gains After Y2K; Banks Fall

Tokyo, Jan. 4 (Bloomberg) -- Japanese computer-related shares rose, led by Fujitsu Ltd., as the nation reported few problems related to the millennium software bug, encouraging investors who reduced their risk exposure last year to return to the market's best-performing stocks.

Banks including Daiwa Bank Inc. fell, leaving key indexes mixed, after the ruling coalition agreed that a cap on bank deposit guarantees should be postponed until April 2002, raising concern the delay may allow banks to slow their cost-cutting and debt reduction measures. ``We saw some buying after the rollover to 2000, yet most institutional investors are still in a holiday mood,'' said Yukuo Kobayashi, a director at Universal Investment Trust Management Co., who oversees 300 billion yen ($2.8 billion). ``The delay of a cap on deposit guarantees reflected the weakness of Japan's financial system.''

The Nikkei 225 stock average gained 85.58, or 0.5 percent, to 19,019.92. The Topix index of all issues on the Tokyo Stock Exchange's first section fell 5.34, or 0.3 percent, to 1716.86.

Nikkei futures for March delivery gained 160 yen to 18,990 in Osaka and added 160 yen to 18,990 in Singapore.

The stock market was closed from Dec. 30 through yesterday for New Year holidays. Today it will be open for the morning session only, from 9 a.m. until 11 a.m. Tokyo time. Full-day trading resumes tomorrow.

Sony, Japan's second-largest consumer-electronics maker, rose 550 yen to 30,800. Fujitsu added 140 yen to 4,800. Shares of Japan's No. 1 computer maker have tripled in the past year.

Hitachi Ltd., Japan's largest electronics maker gained 20 yen to 1,660.

Banks extended their seven-day retreat as a group as corporate investors and financial institutions tried to sell shares they long held with each other to cement business ties in the postwar era.

Investors also sold banks shares after the ruling coalition encompassing the Liberal Democratic Party, Liberal Party and Komei Party agreed that a cap on bank deposit guarantees should be postponed until April 2002, as depositors are still concerned about the financial health of some banks. ``This is a real reversal'' of Japan's Big Bang, or financial reform, said Nishichi Omori, general manager at Sanwa Asset Management, which manages 1 trillion yen ($9.4 billion). ``Financial reform has clearly slowed.''

Daiwa Bank Ltd., Japan's 10th-biggest lender, declined 16 yen, or 5.33 percent to 284. Sakura Bank Ltd., the fifth biggest, fell 13 yen, or 2.2 percent, to 579.

-- y2k dave (xsdaa111@hotmail.com), January 03, 2000.