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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: baddtiming who wrote (97446)	4/16/2000 11:05:00 PM
From: 2MAR$	Read Replies (1) \| Respond to of 108040

Seems , like Mobius of the Templeton fund is having to scramble a bit too: ( Sir John Templeton quite a fellow!) DJ Templeton's Mobius Surprised By Nontech Stock Losses By Kate Pound Dawson HONG KONG (Dow Jones)--Emerging markets fund manager Mark Mobius, who sparked a hefty selloff in technology shares with bearish comments three weeks ago, said Monday he is surprised by the depth of the market losses in the past few days. "I had no idea this thing could be so bad," said Mobius, a managing director and fund manager for Templeton Franklin Investment Services (Asia) Ltd. told Dow Jones Newswires Monday. Mobius was reached by mobile phone as he was returning to his home base in Hong Kong, having cut short an investment trip to India because of the global stock selloff. Still, he said, "I've got a feeling it probably won't be as bad as '87," when global markets crashed. This time around, government officials and top financial institutions in the U.S. and other major countries are more prepared, having survived the 1987 losses, Mobius said. Mobius said, however, he was particularly surprised by the selling of shares outside the technology sector. He said it appeared margin calls were forcing investors to sell across the board. Friday, selling of tech shares forced the U.S. Nasdaq Composite Index down 9.7%, and the Dow Jones Industrial Average plunged 5.7%. Early Monday, Asian markets were sinking fast; at 0230 GMT (10:30 p.m. EDT Sunday) the Hang Seng Index in Hong Kong was down 7.3% and Tokyo's Nikkei 225 average was off 8.6%. Emerging market stocks are going to be hit as badly as the bigger, more developed markets, because even in developing nations "everyone and his brother is announcing an Internet strategy," Mobius said. For now, Mobius said "We've got both buys and sell orders in." There are several stocks he is eager to buy if the prices come down enough, but he also would trim some holdings once prices rebound slightly. (MORE) DOW JONES NEWS 04-16-00 10:53 PM *** end of story