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Technology Stocks : Cymer (CYMI)
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To: Jess Beltz who wrote (11358)12/11/1997 7:14:00 AM
From: Jess Beltz  Read Replies (2) of 25960
 
Asia took a pretty bad pounding today in the financial markets. I'll let you guys survey the damage to the indices over on Yahoo. Here are some of the more interesting anecdotes from today:

In Hong Kong, two parcels of government land went up for auction today and went for considerably less than anticipated, prompting some analysts to speculate that real estate prices in the territory could easily fall another 25%.

In S. Korea, the government has circuit breakers in place that limit the amount the currency, the won, can fall in a single day to (I believe) 10% of its opening value. It took something like 4 minutes today. The government pleaded with the IMF to accelerate the arrival of bail-out cash. I believe another 4 banks folded today as well. The economy there is really bleak.

As far as Asia and Wall Street are concerned, I have no idea who is the tail and who the dog when it comes to slamming stock prices with bad news. Maybe its a two tailed dog with no head (certainly no brains.)

jess
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