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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jul 25, 1991
Page
10
In Tokyo shares rose sharply on Wednesday as traders priced in possible declines in short term rates. The 225 Nikkei averaged 23,297.47, up 338.49 points or 2.37 percent, while the dollar traded at 136.87 yen, down 0.65 yen.
The NASD board rejected proposals by the New York and American stock exchanges to start trading at 9 a.m. Eastern, 30 minutes earlier than the current 9:30 a.m. opening bell. West Coast professionals argued the shift would force earlier hours, while NASD opponents cited operational and market impact. EA Engineering reports quarterly net income of 47 900 dollars with 2 cent per share earnings, up from 41 900 dollars and 2 cents last year.
In Providence the RISDIC collapse triggered a nine member commission probe, with hearings broadcast on statewide cable as banking officials and politicians face tough questioning. About 200,000 depositors await access to frozen funds while viewers clamor for videotapes for posterity.
Kuwait plans to export its first crude since the Iraqi invasion this weekend. About 2 million barrels will be loaded at Mina al Ahmadi for shipment likely to Europe. Kuwait produced around 2 million barrels daily before the war. current output is about 30 000 barrels daily with aim to 50 000 next month.
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