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

To: DMaA who wrote (760)	1/13/1998 2:12:00 AM
From: allen menglin chen	Read Replies (1) \| Respond to of 9980

Asia, China: How bad is the Asia problem? You might have heard that HK HSI down down from 16,000 to 8,500 in less than 6 months. Looks like China has not been affected yet. But look at China ADRs trading in NYSE. ZNH and CEA were down more than 50% since Oct 27; and down 60-70% from its late August peak. Many other China ADRs have the same faith. Last week while HK lost about 20%, average Chinese ADR down 40+%. China is the closest nation to SEA, if these ADRs show no sign of rebound, you can imagine how bad is Asia's problems, including China. You can argue that Chinese currency is under devaluation pressure, and many other factors. My point is that if China, the closet neighbour of SEA, is affected in such a degree, that high-tech firms with exposure to Asia might have same faith, although less severe as we wish.

To: DMaA who wrote (760)	1/13/1998 6:52:00 AM
From: Stitch	Respond to of 9980

David, <<We get to ask "how much is it going to cost me?" don't we? Or don't we?>> Thats a question congress seems to be wanting to ask. There are two things the US has done of late that ultimately come from the taxpayers. One is the obvious, we are a major funder of the IMF. The other has been for the Clinton administration to draw directly from a fund that was not under congressional overview. I have forgotten what that fund was , but basically the administration tapped it (well within their legal authority) and provided emergency loans to Indonesia, over and above the IMF package. Congress seems to be ready to take that one head on. An interesting bi-partisan coalition seems to be forming, its focii point seems to be Sen. D'Amato (Rep.,New York) who heads the senate banking committee. When congress comes back from their vacation they are expected to begin adressing these issues. You can also expect them to start debate on a vote scheduled in march for the provision of $18 billion or so to refuel the IMF. Whether pro or con I assume you can write your representatives in the Senate and Congress and let them know what you think. Best, Stitch