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To: Jurgen who wrote (42816)12/18/1997 9:52:00 PM
From: Sonny McWilliams  Read Replies (1) | Respond to of 186894
 
5speed, I guess they did not like the S.Korean election or they did not like the drop in our markets or they didn't like the second installment to S.Korea and S.Korea knows it, so they don't like it either. Oh well, it's just more money we could be losing tomorrow. Look at it this way, Christmas could be cancelled. On second thought, I may have to do that. gg. Well, there is a bright spot: China is up 2 points maybe those markets will take their clue from that later on.

Sonny



To: Jurgen who wrote (42816)12/18/1997 10:06:00 PM
From: Paul Fiondella  Read Replies (3) | Respond to of 186894
 
Japan down significantly

This is a major drop 923.58 to 15238.

Apparently the cause of this decline is the failure of Toshoku, a major food industry company. It announced bankruptcy today with 639.7 billion yen of debt. Traders then went into a panic fearing all the good news about the tax cut was over and now would come further bad news such as bank and industry bankruptcys.