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Strategies & Market Trends : Asia Forum

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To: Defrocked who wrote (190)	12/26/1997 10:52:00 PM
From: Defrocked	Read Replies (1) of 9980

Threaders, clips and snips from the So.China Mail Post (Sign up,its free so far...) scmp.com Wednesday December 24 1997 Tokyo delays banks' bad-loan regulations <snip> Finance Minister Hiroshi Mitsuzuka says Japan will postpone plans to tighten rules requiring banks to speed up their disposal of bad loans, an indication the nation's financial institutions are in weaker shape than initially thought. Under the rules originally scheduled to go into effect on April 1, banks would be required to examine their loan portfolios and write off potentially bad loans. Many banks have gone into the red and drained their capital getting ready to comply. <snip> All this just to get to 4%?!?!? Saturday December 27 1997 Tokyo market casts optimism aside <snip> Mr Mitsuzuka said the measures were a significant step towards restoring the soundness of the nation's financial system, rocked by successive business failures. Asked if concerns over the financial system had receded, Mr Mitsuzuka said: "I think so." Bank of Japan governor Yasuo Matsushita on Wednesday also dismissed worries over the economy, denying it was sliding into recession. <snip> Traders said the selling was mostly carried out by domestic institutional investors in a market where holidays sidelined most foreign participants. Most of the selling was connected to the continued unravelling of the nation's cross-shareholding, traders said. This meant large financial institutions were selling parts of their holdings in companies they do business with - a trend that does not bode well for the stock average, they said. <snip> Ask yourself who to believe...investors with money on the line or bureaucrats with jobs on the line?

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