Japan's Nikkei Drops to 16 Year Low; AGAIN

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08/12 22:14 Asian Stocks: Japan's Nikkei Drops to 16 Year Low; Taiwan Gains By Yukiko Takai

Tokyo, Aug. 13 (Bloomberg) -- Japan's Nikkei 225 stock average fell to a 16-year low after Advantest Corp., the biggest maker of machines to test memory chips, cut full-year earnings forecasts as chipmakers pare back on equipment purchases.

Oracle Corp. Japan slid after its parent lowered a fiscal first-quarter sales forecast and a Goldman, Sachs & Co. analyst cut forecasts for the No. 1 database software maker and other U.S. software companies. The Nikkei 225 slumped 268.67, or 2.3 percent to 11,466.39, after falling to its lowest since December 1984. The broad Topix index slid 1.5 percent to 1165.46.

-- Guy Daley (guydaley1@netzero.net), August 13, 2001


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