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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (3162)	12/3/2001 1:48:49 PM
From: Sam	Read Replies (1) \| Respond to of 3536

More on the Japan mess, article from earlier this morning. [Welcome back, Henry, hope to hear from you more in the coming months. My own sense of the equity and macro-economic world is pretty confused these days, hope to get a little enlightenment.--Sam] Nikkei falls three pct, led by banks and NTT firms (UPDATE: Updates to mid-afternoon) TOKYO, Dec 3 (Reuters) - Tokyo's key Nikkei average fell more than three percent by mid-afternoon on Monday after the failure of U.S. energy trader Enron Corp (NYSE:ENE - news) weighed on banks while NTT group firms were hit by ratings downgrades. The Nikkei average was down 324.67 points or 3.04 percent at 10,372.77 at 0409 GMT, while the broader TOPIX index (^TOPX - news) fell 23.05 points or 2.19 percent to 1,027.17. UFJ Holdings Inc , whose asset management affiliate holds bonds issued by Enron, tumbled 7.62 percent to 376,000 yen. UFJ is the smallest of Japan's four megabanks. Enron filed for Chapter 11 bankruptcy on Sunday. Telecommunications giant Nippon Telegraph and Telephone Corp (NTT) slipped 5.88 percent to 480,000 yen, while its mobile phone subsidiary, NTT DoCoMo Inc , lost 1.24 percent to 1.59 million yen. NTT and NTT DoCoMo, two of Japan's largest issues by market capitalisation, came under pressure after Standard & Poor's late on Friday lowered its long-term ratings on them to double-'A'-minus.

To: Henry Volquardsen who wrote (3162)	12/5/2001 2:32:34 AM
From: Gone to Money Heaven	Respond to of 3536

The Losses and dislocations seem to stretch from Here to Doomsday, so to speak. Although, that is an exaggeration, since our western capitalism is presumably more "self- cleansing"...than say Japan. .....always a treat to see you H V. :-) Love to get your thoughts on the wild west accounting on energy forwards and swaps that the WSJ was illustrating today. I believe someone posted you an article, expanding on the self-pricing and policing nature of these emerging markets. And you're someone who could really provide some insightful thinking on this "quagmire/issue"--?? always a pleasure, GTMH