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Showing posts from October 3, 2005

Asia stock news, around the Bali Bomb 1 Oct 2005

Asia Stocks: Japanese Banks Decline on Tankan; Indonesia Gains     Oct. 3 (Bloomberg) -- Japanese stocks fell after the Bank of Japan's Tankan survey showed weaker-than-expected confidence among the nation's largest manufacturers. Lenders including Mitsubishi UFJ Financial Group Inc. led the decline.   The Nikkei 225 Stock Average and Topix index retreated after completing their best quarters in a decade.   ``Investors got a little ahead of themselves with the Tankan,'' said Masayuki Kubota, who helps look after the equivalent of $8.5 billion at Daiwa Investments Ltd. in Tokyo. ``From here on, you can't avoid a short-term correction.''   The Nikkei 225 Stock Average lost 0.4 percent to 13,525.28 at the 3 p.m. close in Tokyo, or the first back-to-back drop since Aug. 5. The Topix dropped 0.1 percent, with lenders accounting for more than half the decline.