1.   As major holders of Japanese equities, insurance companies have been buffeted by recent market declines.

2.   As major holders of Japanese equities, they have been buffeted by recent market declines.

3.   A holiday in Japan yesterday meant that investors had that much more money to spend on Japanese equities today.

4.   A large decline in U.S. stocks could also bring down Japanese equities, analysts said.

5.   ABN Amro of the Netherlands and Dresdner Kleinwort Wasserstein have announced that they will close their Japanese equity sales operations here.

6.   According to the latest statistics from the Tokyo Stock Exchange, Japanese banks have been net sellers of Japanese equities for the past eight weeks.

7.   But after a devastating first quarter, a number of portfolio managers and investors have started creeping back into Japanese equities.

8.   But a dismal overall outlook for Japanese corporate earnings, coupled with lower expectations for economic growth, will only keep a lid on Japanese equities, analysts said.

9.   Earlier this year, CSFB said it will close its domestic Japanese equity and its U.S. municipal bonds businesses.

10.   European stocks surged, led by Spain and Sweden, as rising U.S. stocks and a recovery in Japanese equities boosted prospects for companies doing business overseas.