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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (8263)	11/26/2001 11:21:58 PM
From: ajtj99	Respond to of 99280

I can't find anything yet on what happened in Taiwan.

To: Zeev Hed who wrote (8263)	11/26/2001 11:24:14 PM
From: Stockdoctor	Respond to of 99280

Zeev, are you still looking for selling in Dec. or you adjusting the model. isnt the selling getting delayed quite a bit by fed money pump or war stories.

To: Zeev Hed who wrote (8263)	11/26/2001 11:38:10 PM
From: ajtj99	Read Replies (1) \| Respond to of 99280

It may be a bit twitchy this week in Taiwan, as they have elections on Dec. 1st. They have one of the most corrupt free elections in the world. The amount of money you "spend" to be elected is enormous. Graft is one of the ways campaigning is financed.

To: Zeev Hed who wrote (8263)	11/27/2001 4:52:48 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 99280

Zeev: Here is a story on TSMC that says it all: Taiwan state fund to sell TSMC <2330.TW> ADRs-paper TAIPEI, Nov 27 (Reuters) - Taiwan's state stock stabilisation fund plans to sell 130 million shares of Taiwan Semiconductor Manufacturing Co in the form of American Depository Receipts, or ADRs, a local newspaper said on Tuesday. The firm is the world's largest contract chipmaker. The mass circulation Economic Daily News quoted an unnamed finance ministry official as saying the state fund has applied to TSMC for the ADR sales in a bid to partially recoup past stock market losses. One ADR is equivalent to five TSMC common shares. Another ministry official declined to confirm the report, but said, "if the report were wrong, the state would have issued a statement correcting it." The government issued no denial. The report follows the ministry's announcement on Monday that the state stabilisation fund planned to sell ADRs of United Microelectronics Corp (UMC) <2303.TW>, TSMC's rival, to partially recoup past stock market losses. On Tuesday, shares of TSMC rose 2.03 percent to close at T$75.50 after raising on Monday its 2001 pretax profit forecast by 55 percent to T$9.35 billion, outperforming a 0.61 percent retreat in the main TAIEX <.TWII> index. TSMC's ADR <TSM.N> jumped 5.73 percent on Monday. The T$500-billion state stock stabilisation fund, which supports the stock market from "financial disorder", had T$41.7 billion in unrealised losses as of mid-August, the state statistics agency said in August. The fund, which began operations after presidential elections in March last year, is usually activated on an ad-hoc basis when major non-economic events, such as sabre-rattling by political rival China, stir volatility in Taiwan's financial markets. (US$=T$34.5) 02:16 11-27-01