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Non-Tech : MBK---------Bank of Tokyo Mitsubishi Ltd
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To: Madharry who wrote (31)5/13/1998 5:11:00 AM
From: IQBAL LATIF  Read Replies (1) of 170
 
MBK and most of the banks in Japan are under renewed pressure since last week. Derivatives exposure of these banks are heavy and it is rumored that 105 banks are in problem. In my opinion this renewed selling has more to do with ASEAN new selloff. I was not expecting HSI to break thru this 9800 support but that it did however I think if political stability ensues in Indonesia we may see a quick bounce from here very soon. I will be looking at key indicators and expect to add at support. As a stock holder in MKB I think we have oversold situation in Japan as a whole this Bank is not an exception. Some of the japanese Banks keep derivatives exposure of the books and book them only after profits or losses are realized, however I think post Baring incident we had seen a set stringent requirements where all trades and contingent liabilites are marked to market. This is accepted accounting practice and that is what I expect from latest finacials and that is how I form my opinoions if it is otherwise I will be shocked dismayed and loose a lot of money.

I did not get you? Premium of what to Japanese markets? Areyou talking about banks they sell at a discount and not premiums. But that is expected considering the number of problems we hear about
Japan.
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