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     TOKYO (MNI) - The Bank of Japan may consider reviewing its assessment that
Japanese exports are on an uptrend, as Ministry of Finance trade data released
Thursday showed Japanese exports fell 1.2% on year in September, the first
year-on-year drop in 22 months.
     The trade data also showed global demand for Japanese cars, electronics and
machines dropped on year, prompting BOJ economists to carefully analyze the
background of the drop.
     --It is unlikely the BOJ board will unlikely downgrade its assessment that
exports have been on an increasing trend as early as the October 30-31
policy-setting meeting based on the weak September data, as BOJ officials focus
on quarter-on-quarter data to examine the underlying trend.
     --The next key piece of data is the BOJ's real trade indexes for September
due out at 1400 JST (0500 GMT) Thursday.
     --The real export index posted the second straight month-on-month rise in
August, up 2.1% following +0.3% in July.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email:
--MNI London Bureau; tel: +44 203-586-2225; email:
[TOPICS: MAJDS$,M$A$$$,M$J$$$]