Wonder if them and us could soon change to----them or us---Bloomberg News Page One: Hong Kong, Nov. 12, 1997
The following are the day's top stories from Bloomberg News:
LEAD STORIES
Wednesday's Asian Markets: Japan's Stocks Plunge to New Low
By Jonathan Ferziger Hong Kong: Asian stocks plunged again as pessimism over the Japanese government's ability to fix the economy drove prices to a 2 1/2-year low. Singapore and Indonesia were exceptions. Hong Kong shares fell sharply for the sixth time in seven days, closing below the 10,000-point level on concern about increasing bank lending rates. Falling stock prices in Tokyo sent the U.S. dollar surging to 125.85 yen, its highest level since May 6. ''The stock market and land prices have been falling for eight years and we're at the edge,'' said Yasunori Nakazawa, director of Daiwa Investment Trust & Management Co. which handles 8 trillion yen ($64 billion) in securities. ''The government has run out of ways to fix it.'' Among benchmark indexes, the Nikkei 225 stock average fell 433.06 points, or 2.738 percent, to 15,434.17 -- its lowest since July 6, 1995. Hong Kong's Hang Seng Index posted its biggest one-day fall in a week, dropping 396.22, or 3.96 percent, to close at 9,607.91. HSBC Holdings Plc and other banks led the declines, falling 4.1 percent as a group. Korean, Malaysian and Australian stocks also fell. Published 17:52. |
