📄 reut2-020.sgm
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<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20596" NEWID="20001">
<DATE>19-OCT-1987 23:49:31.45</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
RM AI
f0001reute
u f BC-IF-DOLLAR-FOLLOWS-WAL 10-19 0105</UNKNOWN>
<TEXT>
<TITLE>IF DOLLAR FOLLOWS WALL STREET JAPANESE WILL DIVEST</TITLE>
<AUTHOR> By Yoshiko Mori</AUTHOR>
<DATELINE> TOKYO, Oct 20 - </DATELINE><BODY>If the dollar goes the way of Wall Street,
Japanese will finally move out of dollar investments in a
serious way, Japan investment managers say.
The Japanese, the dominant foreign investors in U.S. Dollar
securities, have already sold U.S. Equities.
But "if the dollar falls steeply, which did not happen
yesterday, Japanese investors will definitely try to withdraw
significant funds from U.S. Shares," said Akira Kawakami, deputy
manager of Nomura Investment Trust and Management Co Ltd's
international investment department.
An unstable, lower dollar would also affect Japanese
investment in U.S. Bonds. "Japan-U.S. Interest rate
differentials, which currently look wide enough, mean nothing
in the absence of dollar stability," said Kawakami.
U.S. Bonds could benefit due to a gloomy economic picture
following the estimated huge losses in stocks by major U.S.
Institutional and individual investors, he said. The effect
should be to rule out any U.S. Interest rate rise.
But most Japanese investors in U.S. Bonds are still wiating
to see if the dollar really is stable, he said. The dollar was
holding firm at above 142 yen on Tuesday morning.
"Although Japanese investors sold huge amounts of stocks in
New York yesterday, most are still looking for chances to
lighten their U.S. Stock inventories," Hiromitsu Sunada, manager
of Meiji Mutual Life Insurance Co's international investment
department said.
Their sales helped send Wall Street stocks down 508 points
to 1,738, the market's biggest percentage drop since 1914.
"Investment in U.S. Stocks and bonds is difficult,
considering the dangers," said Katsuhiko Okiyama, deputy general
manager and chief adviser of Yamaichi Securities Co Ltd's fixed
income securities marketing group.
Japanese investment at home could start to pick up once
markets have stopped reacting to Wall Street, the managers
said. The Tokyo yen bond market is likely to stabilise in one
or two weeks, which is what investors have been waiting for.
The bottom for yen bonds should be around a 6.3 pct yield for
the 5.1 pct 89th bond, they said.
"The basic background which has supported the stocks and
bonds markets has not changed," said Norio Okutsu, assistant
general manager of Nikko Securities' bond department. "But new
outflows of funds to the U.S. Will be decreasing." However,
this was already evident three months ago, he said.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20597" NEWID="20002">
<DATE>19-OCT-1987 23:58:39.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0012reute
u f BC-NEC-TO-SUPPLY-CHIP-TE 10-19 0085</UNKNOWN>
<TEXT>
<TITLE>NEC TO SUPPLY CHIP TECHNOLOGY TO FRANCE</TITLE>
<DATELINE> TOKYO, Oct 20 - </DATELINE><BODY>NEC Corp <NIPN.T> will supply <Matra-Harris
Semiconducteurs SA(A)> (MHS) of France with manufacturing
technology for 16-bit microchips used in microcomputers, an NEC
spokesman said.
MHS, a joint venture between France's MATRA <MATR.PA> and
Harris Corp <HRS> of the U.S., Will manufacture and market
globally a microcomputer based on NEC's Micron PD 78312 and
Micron PD78310 chips.
MHS will pay NEC an undisclosed sum for the technology.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20598" NEWID="20003">
<DATE>19-OCT-1987 23:59:09.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>tse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
RM AI
f0013reute
b f BC-JAPAN-TAKES-WAIT-AND- 10-19 0107</UNKNOWN>
<TEXT>
<TITLE>JAPAN TAKES WAIT-AND-SEE STANCE ON STOCKS-OFFICIAL</TITLE>
<DATELINE> TOKYO, Oct 20 - </DATELINE><BODY>The Finance Ministry will take a
wait-and-see stance on Tokyo Stock Exchange movement, although
it is gravely concerned about the sharp fall in stock prices, a
senior Ministry official said.
The official, who declined to be identified, told reporters
the 7.3 pct drop in Tokyo stock prices this morning was caused
primarily by psychological factors following the 22.5 pct fall
in New York stock prices overnight.
He said the Ministry is in close contact with the Tokyo
Stock Exchange, but has no plans yet to take any specific
measures regarding the fall.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20599" NEWID="20004">
<DATE>20-OCT-1987 00:08:10.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
RM
f0017reute
u f BC-MEXICAN-STOCKMARKET-H 10-20 0112</UNKNOWN>
<TEXT>
<TITLE>MEXICAN STOCKMARKET HEAD SEES NO CRISIS AFTER FALL</TITLE>
<DATELINE> MEXICO CITY, Oct 19 - </DATELINE><BODY>The outlook for Mexico's economy and
stockmarket remains optimistic despite the market's worst-ever
fall of 52,671.56 points on Monday, the president of the
Mexican stock exchange, Manuel Somoza, said.
He said the 16.51 pct drop in the exchange's index
reflected a "totally emotional" reaction to Monday's fall on the
New York stock exchange and was not a reflection of a new
crisis for the Mexican economy or the stockmarket."
He was speaking at a news conference here on Monday.
"We think that after the psycological effect the market will
tend to stabilize itself," Somoza said.
Somoza said he based his optimism on the relatively bright
outlook of the Mexican economy due to increased income from oil
and non-petroleum exports, record high foreign reserves and
government efforts to promote a modernization of the industrial
sector.
"The U.S. Economy is not the same as the Mexican," he said.
He did not say when he thought the market would stabilize.
He said traders had originally expected the market to level
out on Monday after last week's profit taking pulled the index
down 44,207 points.
News of the "enormous problems" in New York, which reached
Mexico City before the local market opened, caused a flurry of
selling on the Mexican exchange, Somoza said.
The stockmarket had risen 629 pct over the year by the end
of September.
Somoza said Monday's light volume of 15.3 mln shares
compared to an average of 53 mln was an indication the day's
drop was not a sign of a major collapse.
He also denied rumours that the day's loss was the result
of government and brokerage house manipulation.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20600" NEWID="20005">
<DATE>20-OCT-1987 00:15:04.00</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>indonesia</D><D>uk</D><D>malaysia</D><D>usa</D><D>papua-new-guinea</D><D>west-germany</D><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
T
f0021reute
u f BC-ASIAN-COCOA-PRODUCERS 10-20 0097</UNKNOWN>
<TEXT>
<TITLE>ASIAN COCOA PRODUCERS EXPAND DESPITE CRITICS</TITLE>
<AUTHOR> By Jeremy Clift</AUTHOR>
<DATELINE> JAKARTA, Oct 20 - </DATELINE><BODY>Asian cocoa producers are expanding
output despite depressed world prices and they dismiss
suggestions in the London market that their cocoa is inferior.
"Leading cocoa producers are trying to protect their market
from our product," said a spokesman for Indonesia's directorate
general of plantations. "We're happy about our long-term future."
Malaysian growers said they would try to expand sales in
Asia and the United States if Malaysian cocoa was not suitable
for European tastes.
They were responding to comments by London traders that
large tonnages of unwanted cocoa beans from Malaysia, Indonesia
and Papua New Guinea (PNG) were helping to depress cocoa
prices.
London traders said the Asian cocoa was considered
unsuitable for western palates because of an acrid odour and a
high level of free fatty acids.
Ng Siew Kee, the chairman of Malaysia's Cocoa Growers'
Council, said Malaysia should expand its sales to Asia and the
United States if it did not produce a type suitable for Western
Europe.
A spokesman for the PNG Cocoa Industry Board said the
London market was mistaken if it linked PNG cocoa with
high-acid Malaysian and Indonesian beans.
"When the market is declining, buyers seize on anything to
talk down prices," the spokesman said.
He said that PNG could sell whatever cocoa it produces.
PNG exported 33,000 tonnes of cocoa in the 1986/87 cocoa
year ending September 30, of which nearly 50 pct was exported
to West Germany, 16 pct to the U.S. And the rest to the
Netherlands and Britain.
The Indonesia spokesman, an Agriculture Ministry official
who wished not to be identified, said Indonesia had no problem
with quality and would continue to expand sales. He described
criticism of the quality of Indonesian beans as "trade politics"
and said Jakarta's traditional links with Dutch buyers meant it
did not have any difficulty with exports.
Indonesia and Malaysia, Asia's two biggest commodity
producers, are expanding cocoa output and are both outside the
International Cocoa Organization (ICCO).
Officials have said Malaysian production is expected to
total 150,000 to 155,000 tonnes in calendar 1987.
This is up from 131,000 tonnes in 1986, partly because of
the end of a three-year drought in Sabah, the country's largest
cocoa growing area.
Production of Indonesian cocoa beans tripled to 31,600
tonnes in calendar 1986 from 10,284 tonnes in 1980. Output is
projected to rise to 50,000 tonnes in 1988 from 38,000 tonnes
this year as young trees mature.
Both Malaysia and Indonesia are low cost producers and
traders said they could last out low prices longer than West
African countries.
According to one Kuala Lumpur trader, world prices would
have to fall another 1,000 ringgit per tonne (about 250 stg) to
make cocoa production in Malaysia uneconomic.
Some traders believe the main quality problem is with
harvesting and fermentation techniques.
One trader said Malaysian cocoa is virtually
indistinguishable from West African output if treated in the
same way but this is not possible on the larger Malaysian
estates.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20601" NEWID="20006">
<DATE>20-OCT-1987 00:20:44.23</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>tse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
RM AI
f0029reute
f f BC-Tokyo-stock-index-dow 10-20 0012</UNKNOWN>
<TEXT TYPE="BRIEF">
******<TITLE>Tokyo stock index down 2,210.19 points to 23,536.37 in early afternoon
</TITLE>Blah blah blah.

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20602" NEWID="20007">
<DATE>20-OCT-1987 00:30:35.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
RM AI
f0036reute
b f BC-JAPANESE-PREMIER-SAYS 10-20 0110</UNKNOWN>
<TEXT>
<TITLE>JAPANESE PREMIER SAYS HE WATCHING STOCK SITUATION</TITLE>
<DATELINE> TOKYO, Oct 20 - </DATELINE><BODY>Japanese Prime Minister Yasuhiro Nakasone
was quoted by Kyodo News Service as saying he was watching the
stock market situation.
"We must watch things a little longer. New York is down 22
pct, London 10 pct, while compared to this Japan is seven pct
down," Kyodo quoted him as telling reporters.
Asked if he agreed with analysts who called the stock
sell-off "Black Monday," Nakasone said: "Compared with times past,
economics have changed completely." He rejected a comparison
between the present situation and the stock market collapse of
1929 and the recession which followed.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20603" NEWID="20008">
<DATE>20-OCT-1987 00:48:57.47</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
Y
f0049reute
u f BC-MALAYSIA-ADVISED-TO-R 10-20 0116</UNKNOWN>
<TEXT>
<TITLE>MALAYSIA ADVISED TO RAISE CRUDE OIL OUTPUT IN 1988</TITLE>
<DATELINE> KUALA LUMPUR, Oct 20 - </DATELINE><BODY>Malaysia's national oil company,
Petronas, has advised the government to raise crude oil output
to 540,000 barrels a day (bpd) in 1988 from a current 500,000
bpd, a senior company official said.
"We have the capacity to produce the amount," Rastam Hadi,
Petronas's Vice-President for Upstream Sector said.
The government will announce its decision on Friday when it
unveils the country's budget. Malaysia raised output this month
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