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Foreign Firms Benefit
- By Unknown
- Nov. 05 1997 00:00
TOKYO -- Merrill Lynch and Morgan Stanley earned the top shares in stock trading on the Tokyo markets in October, benefiting from a racketeer scandal that ensnared Japan's "Big Four" brokerages, market sources said Tuesday.
It is the first time a foreign brokerage had reached the top spot, they added.
Merrill Lynch Japan Inc. grabbed the biggest share with 8.03 percent of volume on the Tokyo Stock Exchange, trading 1.39 billion shares, followed by Morgan Stanley's 1.30 billion shares or 7.51 percent of the total.
The nation's top brokerage, Nomura Securities Co. Ltd. and Daiwa Securities Co. Ltd. came in third and fourth, respectively.
It is the first time a foreign brokerage had reached the top spot, they added.
Merrill Lynch Japan Inc. grabbed the biggest share with 8.03 percent of volume on the Tokyo Stock Exchange, trading 1.39 billion shares, followed by Morgan Stanley's 1.30 billion shares or 7.51 percent of the total.
The nation's top brokerage, Nomura Securities Co. Ltd. and Daiwa Securities Co. Ltd. came in third and fourth, respectively.
