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Technology Stocks : Texas Instruments - Good buy now or should we wait? -- Ignore unavailable to you. Want to Upgrade?

To: Angela who wrote (2639)	12/23/1997 11:19:00 PM
From: Angela	Respond to of 6180

<< Seoul stock market drops more than six percent; Tokyo also opens lower December 23, 1997: 8:22 p.m. ET South Korea gets $3 billion TOKYO (Reuters) - South Korean stocks plummeted nearly 6 percent in early trading Wednesday, driving Seoul's composite index down to 345. Traders said investors feared South Korea's short-term debt could be larger than expected. Brokers and dealers said Tuesday confidence in South Korea was shaken by comments from President-elect Kim Dae-jung and further downgrades by Moody's Investor Service and Standard & Poor's. >> Since Korea is having such a big impact on the market -- I think it's important to take into account the political behavior and agenda that is part of this whole bailout. President Kim (Pre-election -- last week) said to his constituents that he wouldn't let IMF push Korea around. THE VERY SAME DAY HE WAS ELECTED (Friday) he did a 180 and said he'd go along with IMF reforms. Today he says things are worse than he thought and they have no money. He has to come out and say things are really bad partly to justify to his country why he is going along with the IMF after saying he wouldn't. And partly to get bailout money ASAP. Even though the market doesn't seem to like President Kim's remarks, I feel more confident in S. Korea now than I did last week. If the new president had continued to resist the IMF reforms and deny the full scope of the problem -- that would have been really bad. Angela