Asia Pulp & Paper Company (NYSE:PAP) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Asia Pulp & Paper Company (NYSE:PAP)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Trooper who wrote (38)	10/12/1998 8:43:00 PM
From: Milk	of 63

Monday October 12, 2:52 pm Eastern Time ADR REPORT - Emerging market highlights - Oct. 12 ASIAN ADRS STRENGTHEN ON HOPES OVER JAPAN BANK PLAN NEW YORK, Oct 12 (Reuters) - Asian American Depositary Receipts (ADRs) strengthened Monday on hopes a Japanese bank reform plan could jump-start the region's economy. Dealers said the ADRs reflected overnight gains on Asian exchanges prompted by optimism about the reform and prospects of Japan stimulating its economy, the world's second biggest. ''Markets are all going up on expectations and hopes that Japan is going to stimulate the economy and that is going to filter through to the rest of Asia,'' a trader said. ''And that's the long and short of it.'' Japan's government won enough backing from opposition party leaders to put through a plan to inject public money in the bank sector. The plan was considered crucial to meeting international demands for Japan to help banks as a confidence-boosting measure. Tokyo's Nikkei 225 index rallied 5.24 percent on the news. Latin American ADRs were mostly higher. Trade was quiet because most regional exchanges were closed for holidays. The ING Barings Latin American index of leading regional stocks was up 0.8 percent. Interest was focused on telephone ADRs, which are easier to buy and sell. Here are some highlights among emerging market ADRs: * * * INDONESIA - Telephone company PT Telekom (NYSE:TLK - news) was up 3/16 to 3-7/8. Asia Pulp & Paper Co. Ltd. (NYSE:PAP - news), a Singapore company with operations in Indonesia, was unchanged at 7-5/16. * * * CHINA - Yanzhou Coal Mining Inc. (NYSE:YZC - news) was up 1-1/2, or 17.91 percent, to 9-7/8 and was among percentage-gain leaders on the New York Stock Exchange. * * * PHILIPPINES - Telephone company Philippine Long Distance Co. (NYSE:PHI - news) rose 6/16 to 21-5/16. First Philippine Fund Inc. (NYSE:FPF - news) was up 9/16, or 14.3 percent, to 4-1/2 and was among percentage-gain leaders on the New York Stock Exchange. * * * BRAZIL - Telephone issue Telebras SA (NYSE:TBR - news) was up 13/16 to 72-1/16.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next