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Pastimes : Ask Mohan about the Market
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To: John Hunt who wrote (15553)4/25/1998 8:11:00 AM
From: Zeev Hed  Read Replies (1) of 18056
 
John, you are right on the Korean market, it has been creeping steadily down, with no big fanfare. Yet, the Nikkei is making heroic efforts to hold 15,500, and Friday's release of the tax cut and stimulus package was received by the market with a nice mini rally. I think however that that was about it, now we have to see if the Japanese economy will react and can it pull with it the SEA economies with it. The Jury is out. Short term, we reach a very negative Tick of -1200 or so in the NYSE, which is often followed by a rally. Such ticks are usually associated with much greater declines than the .9% or so we had, so the odds are that the next rally will get us to yet new highs.

Zeev
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