Russian Crisis - Is it a buying opportunity? Message Board

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Strategies & Market Trends : Russian Crisis - Is it a buying opportunity?

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To: Ray Tarke who wrote (94)	8/31/1998 11:30:00 PM
From: Jeffrey L. Henken	of 175

U.S. fundamentals good,Dow fall due to Russia-MITI TOKYO, Sept 1 (Reuters) - U.S. fundamentals are strong and most of the Dow Jones industrial average's fall on Monday was a result of the Russian Duma rejecting President Boris Yeltsin's nominee for a prime minister, Japan's Trade Minister Kaoru Yosano said on Tuesday. He said it was important that the crisis in Russia be put in perspective, adding he believed that the Duma would eventually back nominee Viktor Chernomyrdin because the Duma would have to be dissolved if it did not. ''The Dow fall was an emotionally triggered sell-off, '' he told a news conference. ''It does not reflect U.S. fundamentals.'' He said U.S. officials had said that the Russian economy was no more than two percent of the world economy. Yosano also said he did not think there was much of a link between North Korea's missile launch on Monday and the fall in Tokyo stocks on Tuesday. He added that it was Japan's responsibility to the world to see that financial bills being debated in parliament were passed as soon as possible. biz.yahoo.com Regards, Jeff

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