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To: Richnorth who wrote (3685)	12/1/1997 1:15:00 AM
From: Bob Hack	Read Replies (2) \| Respond to of 116815

Anyone...... More Asia details taken from: Thomas Nelson's Weekly Market Overview Sun Nov 30 16:10:44 PST 1997 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Asian market indexes moved marginally lower last week. Japan's Nikkei-225 index closed Friday at 16636.26 down 85.32 for the week. The Hong Kong Heng Sang closed Friday at 10526.92 down 21.28 for the week. Japanese October chain store sales declined 3.6% for their seventh consecutive annual decline. Last week the Japanese parliament rejected an opposition motion of no- confidence in Finance Minister Hiroshi Mitsuzuka. The lower house backed Mitsuzuka by 259 top 214 after the opposition proposed that he take responsibility for Japan's economic problems. Last week the Bank Of Japan indicated that the Japanese economy continues to slow pressured by weak consumer spending since the increase in the national value added tax or sales tax in April. Wednesday the Bank Of Japan flooded the domestic money market with cash to provide market liquidity. Wednesday the Tokyo City Bank announced that it was giving up on restructuring and would be acquired by another Japanese bank. The Bank Of Japan and the Japanese Ministry Of Finance in a joint statement stated they will supply the Japanese market with liquidity if required so that repayment of financial firms deposits and other payments will not be hindered. The Ministry Of Finance also stated that it did not expect any more major bank failures in the near future. Japan pledged to participate in an international package to rescue South Korea's floundering economy. Japan's October consumer price inflation increased 2.5% from a year earlier. Japan's October automobile exports surged marking the 17th consecutive month of increasing automobile exports. Friday the Bank Of Japan aggressively continued to push money into the their financial system pushing liquidity to record levels causing the cost of borrowing for Japanese institutions to decline. Hong Kong's economic growth declined in the third quarter but annual growth is still expected to reach 5.5%. Cheers, Bob