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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: xiao-Dong Fan who wrote (452)	1/4/1998 9:38:00 PM
From: Philip H. Lee	Read Replies (1) \| Respond to of 9980

Asian currencies continue to sink. As of 9:18pm EST: Indonesian rupiah crosses 6000...at 6301, + 376 (weakening by 6.34%) Thai baht almost over 50...at 49.8, + 1.55 (3.21%) Phillipine peso crosses 40 again...at 42.395, + 2.895 (7.33%) Korean won at 1732.5, + 132.5 (8.28%) bloomberg.com Philip

To: xiao-Dong Fan who wrote (452)	1/4/1998 10:07:00 PM
From: Rational	Respond to of 9980

Xiao: I read the article in which some "expert" from Taiwan was speculating on yuan devaluation; I did not quite get the logic. It is interesting that in one night I read a lengthy WSJ article stating (erroneously) that Indonesia had $200 bil debt (not ~$120 bil) and the currency was fast depreciating to Rp 6000 per US$. But, I was reading on Reuter at the same time that Rp was Rp4200 per US$. The source for the article retracted the story and the printed issue of WSJ had a new article replacing the old contradictory article. Also, the rating agencies just became smart to downgrade the SE Asian currencies after the fact; it serves no real purpose to do so now except to send jitters (and create more buying opportunities for foreign fund managers); if they were smart they should have done so at least when the currencies were weakening. Sankar