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To: IceShark who wrote (39121)	11/19/2000 11:57:21 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

I see Fido is right on top of things (Taiwan) once again: biz.yahoo.com Thursday November 16, 6:57 am Eastern Time Fund manager Fidelity says time to buy Taiwan stocks By Baker Li TAIPEI, Nov 16 (Reuters) - Taiwanese stocks offer investors the chance to make a quick profit because of their current low valuation and the likelihood the market will rise once political stability returns, Fidelity Investments said on Thursday. ``The Taiwanese market is so attractive at the moment, and the reason for that is share prices have come down quite a bit to a level for buying opportunity,'' said John Ross, a board member of the U.S. fund managemer's investment communication department. The price/earnings ratio of Taiwan's stock market is now at a relatively low level of around 20, and investors should take advantage of the recent market losses to buy stocks on the cheap, Ross told a news conference in Taipei. Prior to the country's presidential election in March, Taiwanese stocks had a PE of 40-50. The market has fallen 40 percent since President Chen Shui-bian took office in May in Taiwan's first democratic transfer of power. The benchmark index (^TWII - news) closed down 4.93 percent on Thursday at 5,454.13 points as investors offloaded financial stocks after a former finance minister said a small-scale financial crisis was possible unless the government dealt with mounting bad loan problems and maintained high economic growth. The index has lost 10 percent over the past week. Fidelity's Ross said political uncertainty would likely be temporary and his optimism was based on strong fundamentals of the island's technology stocks. Ross said 80 percent of Fidelity's Taiwan fund was invested in tech stocks, of which over 40 percent was invested in what he called ``upstream activities of the technology companies''. He declined to recommend any individual stocks. The island is the world's top maker of made-to-order microchips and the third-largest maker of computer equipments. Besides Taiwan, Ross said Fidelity also liked South Korea and Hong Kong because of their continued economic recovery and stepped-up enterprise reconstruction efforts. He said combined stock market capitalization of Taiwan, Korea and Hong Kong accounted for 74 percent of the total stock market value in Asia at the end of August, higher than the 54 percent four years ago. Morgan Stanley Captial International (MSCI) has said it would increase Taiwan's weighting to 80 percent from 65 percent of market capitalisation in its indices on November 30. Now check out the performance of the TWII since Thursday: finance.yahoo.com^TWII&d=5d