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Technology Stocks : KLA-Tencor Corporation (KLAC)

KLAC 1,545

+7.8%

Jan 15 3:59 PM EST

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To: Jacob Snyder who wrote (879)	1/12/1998 12:01:00 AM
From: John Chalker	Read Replies (2) of 1779

Jacob, <<The reason given is that Indonesia is back-pedalling on their commitments to the IMF. What's the connection? >> The connection is that failure to follow the IMF guidelines places the private banking system at risk. We're primarily talking Japanese banks here, they are the biggest private lenders to Indonesia. Since they are currently in a weakened state, they could not afford to eat these bad loans. If you break one or two big Japanese banks you create a real crisis of confidence in the entire global system. That is the danger. Like dominoes, only the each one that falls is progressively bigger. Additionally, this makes everyone hesitate before aiding the other Asian countriesm which only aggravates the entire situation. At this point, company fundamentals are meaningless. We are dealing with a problem on a much grandeur level, a global scale. Chalsk

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