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To: GST who wrote (106742)	7/30/2000 12:04:38 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Gst, I saw this in todays LA Times and I couldn't help but think of you. Weren't you in Vietnam on business not long ago? I'm thinking there must be some excellent investment opportunities in Vietnam. If you know of some please let me know. >Vietnam's first stock market opened for business on Friday, which undoubtedly sent founding communist leader Ho Chi Minh spinning in his sarcophagus. But with capitalism triumphant worldwide, Vietnam's current leadership knew it had to get with the equity-ownership program, Uncle Ho or no Uncle Ho. On the first day of trading, 4,200 shares changed hands in two stocks--Refrigeration Electrical Engineering and Cable & Telecommunications Material Joint Stock Co. There might have been more action, except that the government opted to cap both share prices for the day. Old communist control-freak tendencies tend to die hard. Now, with the U.S. market's trading patterns the standard for investors worldwide, there is a lot for Vietnamese investors to look forward to. For example, the first time that Refrigeration Electrical Engineering announces that it won't meet analysts' quarterly earnings estimates. There was a lot of that kind of thing going around in the Nasdaq Stock Market last week--so much so, in fact, that by Friday many beleaguered tech-stock investors were probably wishing for Hanoi-style price controls on their stocks. (Well, controls on the downside, at least, if not on the upside.) The Nasdaq market suffered a 4.7% plunge on Friday to 3,663.00, leaving it down 10.5% for the week--the third-worst weekly decline in the index's 29-year history. Even those tech stock investors who had steeled themselves for continuing volatility after the unprecedented swings of the first half of 2000 must be sweating last week's slide. Anyone who owns tech shares can't be terribly interested in revisiting their May lows, when the Nasdaq index bottomed after plummeting 37.3% from its March record high of 5,048.