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Foreigners Likely behind Last Week's Japan Stock Swings

Foreigners Likely behind Last Week's Japan Stock Swings

   Tokyo, Aug. 16 (Jiji Press)--Massive buying and selling by foreign investors were likely behind last week's Japanese stock market swings, a Tokyo Stock Exchange report suggested Friday.
   According to the report on stock transactions via 51 brokerage houses on the TSE and the Nagoya Stock Exchange, foreign investors posted selling of 24,444.3 billion yen and buying of 24,939.7 billion yen in Japanese stocks in the Aug. 5-9 week, both record highs.
   On Aug. 5, the Nikkei 225 stock average suffered its biggest-ever one-day point drop of 4,451.28 points, exceeding the previous record fall marked the day after the Black Monday stock market crash in the United States in 1987.
   The key index then proceeded to gain 3,217.04 points, its biggest-ever point rise, the following day.
   The Nikkei average lost roughly 900 points last week, compared with the Aug. 2 closing figure.

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AFP-JIJI PRESS NEWS JOURNAL


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