Japanese market could be set to rally

The Ticker

April 25, 2001|By JULIUS WESTHEIMER

IT IS TIME to rethink Japanese stocks, says James Clunie, head of global securities at Aberdeen Capital Management.

"Japan's stock market hit a 16-year low in March, but a projected cut in short-term interest rates should stop deflation and stimulate growth.

"Put about 20 percent of your foreign stock portfolio in Japan. Attractive blue chips: Canon Inc., Nippon Telephone & Telegraph Co. and Sumitomo Bank Ltd."

"Over the long term, the Fed cannot stop this bear market. The meltdown must end with selling exhaustion, and this we have not seen." (The Sovereign Advisor)

"Higher interest rates didn't get Wall Street into this bind, so the Fed's lower rates aren't likely to be the magic elixir that gets us out." (Douglas Cliggott, J. P. Morgan Securities)

"The Fed is expected to lower interest rates again in May. While we don't see a near-term V-shaped recovery, stocks will begin to move higher as economic improvement is anticipated." (Myron Oppenheimer, vice president, Mercantile Safe Deposit & Trust Co.)

WALL STREET WATCH: "If the Nasdaq is truly headed back up to 3,000 and the Dow headed above 11,000, they won't do it all in one rush, and there will be lots of buying opportunities along the way." (U.S. Investment Report)

"A high-tech rebound seems likely, but the fundamental aspects of the industry are awful." (Yamamoto Forecast)

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