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To: IceShark who wrote (20864)	9/22/2000 12:20:03 PM
From: CYC	Respond to of 436258

For years, I observed that the share actions of Taiwan electronic sectors usually were very good leading indicators for US so-called hi-tech sectors. That picture was distorted somehow in the last two years with AG's moronic monetary policy. Sometimes, it gets complicated because of the tension with China. Nevertheless, this year it is working again. Historically, the correlation of the Taiwan and US markets has been poor. However, since the Taiwan market with heavy weightings in real estates and financials collapsed with Nikkei 10 years ago, the electronic sector has really taken off and become the new leaders. Thus, I have reasons to believe that the correlation is much stronger now. Last night, the two big chip foundries (TSM, UMC) and a few other memory manufacturers were down the daily limit (7%), FWIW.