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Strategies & Market Trends : Asia Forum

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To: Sam who wrote (9337)	9/17/1999 1:31:00 PM
From: Ron Bower	of 9980

Sam, "FOCUS-Asia stocks fall; Tokyo crushed by firm yen" Doesn't include Hongkong with the HSI seemingly firm between 13400-13800. Has pushed 14,000 a couple of times in the past two weeks. I love it because I'm in three HK exporters. The yen strength has effectively devalued the $HK and the yuan - rejuvenating HK tourism and improving exports. Even exports to Japan and South Korea are up. The yen is now well above pre-crisis levels - at 3.1/2 year highs. This has helped HK and others where the currency is not gaining with the yen. Overall, it may slow Japan's recovery, but will be more beneficial to ASEAN. Also helps Mexico and some of the South and Latin American countries. I don't see how the yen can stay this high and expect a lot of fluctuations before stability. Also- I still can't believe those that speculate a devaluation of the yuan. It's been devalued with the $US. Most all of us missed buying into the Nikkei when it was down and the yen weak. China considered converting a large amount of their $US into $EURO when the $US was high. Wonder if they followed through.) Just my 2 cents, worth less than it was a few months ago, Ron

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