Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Oeconomicus who wrote (9173)	5/25/1998 10:41:00 PM
From: Joey Two-Cents	Read Replies (1) of 18691

<KOSPI continues its freefall. Down 16.75 to 315.15 at 10:07PM EST (Tuesday in Korea).> R.D., the union strikes that are to take place tomorrow are troubling for S Korea. The IMF has imposed such draconian measures on S. Korea a blind man can see they'll fail. S Korea has had a history of volatility with student and union riots (largely N Korean agitated). These have rocked that nation in the past and now that millions will be thrown out of work will rock them again, perhaps as early as tomorrow. As this occurs, the Nikkei is rising because Rubin & Co. will not defend the Yen raising the prospect of higher sales for Japanese exporters. The Japanese euphoria will be short lived since the Japanese are the largest holders of S Korean debt and will be out hundreds of billions. South Korea staggers under soaring unemployment. insidechina.com Seoul seeks to clear 100 trilion Won in bad loans. insidechina.com

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