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To: prakash who wrote (7899)	1/8/1998 2:16:00 PM
From: Curbstone	Respond to of 13925

Here is some news from Singapore that is probably relevant in some way. Found on the Yahoo Finance Creaf Chat. Its from a couple of days ago but I didn't see any mention of it yet. Mike. ***************************************************** Monday January 5 4:55 AM EST Currency slide whacks Singapore stocks SINGAPORE, January 5 (UPI) _ Singapore stocks fell again in thin trading Monday. Said one dealer with a foreign brokerage: ''It's very quiet, very dull, and very down.'' Sentiment remained weak in the face of plummeting currencies across Asia, especially in neigboring Malaysia, where the ringgit skidded to a new record low of 4.06 to the greenback. Meanwhile, the Singapore dollar, traditionally one of South-east Asia's most resilient currencies, fell to 1.71 to the greenback. Trading was thin, with just 61 million shares, worth 124 million Singapore dollars, changing hands. Retreating counters trounced advancers 284 to 39, with 267 counters unchanged. ************************************************************* Tuesday January 6 7:19 AM EST Stocks sink in Singapore SINGAPORE, Jan. 6 (UPI) _ Stock prices on the Singapore Stock Exchange fell sharply Tuesday, knocked down by the collapse of regional currencies. The benchmark Straits Times Industrial Index plunged 69.77 points, or 4.66 percent, to 1,426.18 _ its lowest level since 1993. The broader All-Singapore Index sank 15.98 points, or 3.83 percent, to 401.44. Trading was moderately thin, with just 115 million shares changing hands. Falling counters stomped advancers 356 to 32, with 202 issues ending unchanged. The Singapore dollar sank to a six-year low against the U.S. dollar. Conventional wisdom suggests that Singapore's well-managed economy should provide a safe haven for investors bailing out of staggering markets like Indonesia and Malaysia, but dealers say the Lion-City cannot remain immune from the weak sentiment sweeping the region. ''After a certain point, it has to succumb to the pressure,'' said dealer Marc Jullienne of SocGen-Crosby Securities. ''And with this thin trading, it doesn't take much to get the ball rolling, and get it rolling pretty fast.'' Meanwhile, the Singapore dollar fell to 1.735 to the greenback, a six-year low, while the Indonesian rupiah dived to a low of 7300 and the Malaysian ringgit tumbled to 4.33. Copyright 1998 by United Press International. All rights reserved. *******************************************************