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Strategies & Market Trends : Asia Forum

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To: Thomas Haegin who wrote (822)	1/14/1998 11:33:00 AM
From: tom	Read Replies (3) of 9980

- Death penalty for hoarding food in Indonesia (under the subversion law) - Many more bankruptcies in Hong Kong as credit lines are pulled (many Jap banks are pulling credit as we speak) - Why should Peregrine be the only one in trouble? Remember Steady Safe owed Peregrine US$250m but also owes HSBC another US$100m - which it won't pay back. OK HSBC can handle it but there are many more nasty surprises in store for banks in Asia. Of that I am certain - When Indonesians don't get their bonuses at the end of this month they are not going to be very happy (ie more riots on the cards) - Just as Asia were in denial for the last few years the West have not realised the effect of the Asian economic disaster on their own growth. The US market is only just off its all time high! With all this going on does anyone know why the markets are so buoyant? It seems like a sucker rally to me. Sell Asia, sell all banks with Asian exposure (particularly European ones which have been the marginal lenders to Asia in the last few years) Korea has been the best performing market in the world this year- in US$ terms. Give me a break!

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