31.   Several investment firms also downgraded their ratings on the stocks.

32.   Some analysts reduced their forecasts for Reuters earnings following the session and HSBC Securities downgraded its rating of the stock.

33.   Tech stocks, which had enjoyed a strong winning streak last week, fell back as Morgan Stanley downgraded its ratings on several big companies, including Intel.

34.   The credit-rating agency said Friday it also was considering downgrading the ratings of four major Chinese state-owned banks.

35.   The rating agency had previously downgraded the rating of Malaysian banks from stable to negative.

36.   The tech sector, which had enjoyed a strong winning streak last week, fell back as Morgan Stanley downgraded its ratings on several big companies, including Intel.

37.   Two major U.S. credit agencies on Wednesday downgraded the ratings of Japanese brokerage giant Nomura Securities Co., citing a deteriorating profit growth outlook and exposure to potential losses.

38.   Moreover, analysts were expecting declines in prices of telephone company shares after Merrill Lynch downgraded its ratings on a number of them.

39.   Nomura Securities downgraded its rating of the stock, a broker with a US securities house said.