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To: HeyRainier who wrote (5807)	1/23/1998 10:48:00 PM
From: Galirayo	Read Replies (1) \| Respond to of 9262

[ SFN ] Hi Rainier. Here's an article I scanned in. There are some interesting little Tidbits in it regarding Mexico's recent growth and interest rates in the Region. Seems Oil Prices are a Key Factor. Where is that Saber Rattler when you need him?? There may be some errors since I OCR'd it. I'll average down on SFN as soon as the ASK size changes. There seems to be and endless Ask Size of 30K. That won't go away. I think they are playing Good for the Day because the ASK disappears at the Close. But I'm in for more when they finish their Dumping. Came close today at 1.25. When was the last time you saw a Bank selling for 1.25? Ray Asian fall hurts Latin Economies Foreign Money is leaving South America CARACAS, Venezuela (AP) -The Asian currency is threat-ening to stunt Latin America's economic growth just when the region's free-market reforms are showing promise. After a banner year in 1997, prices for oil and copper are plummeting, and foreigners are pulling their dollars out. Stock markets across Latin America have seen 20 percent drops in recent months. But economists predict that high growth and lower inflation achieved by Chile and Mexico will help the region avoid a recession. Even so, governments throughout the region are adopting more moderate growth predictions for 1998. Nervous investors look at Latin America and see many of the same ills that plague Asia's emerging markets: Overvalued currencies, trade deficits and unwieldy government spending. Despite slow progress bringing the fruits of development to the region's poor, Latin American economies grew by more than 5 percent in 1997, the best year since 1980. Low inflation, high foreign invest-ment, strong consumer demand and robust exports were supposed to provide for an encore performance this year. Then came the Asian crisis in October. The Sao Paulo Stock Mar-ket - Latin America's Largest - fell 30 percent in two weeks, forcing the Brazilian government to slam the brakes on the economy in. defense of the currency, which came under as-sault from speculators anticipating a devaluation. Authorities doubled interest rates, raised taxes and slashed the national budget in a slowdown expected to last at least through the first half of this year. Brazil's downturn is not good news for the nest of Latin America, especially Argentina, which sends about a third of its exports to its larger neighbor. Chile has seen both its currency and its stock market fall by 10 per-cent since Jan. 1. Weak Asian demand also threatens to take a bite out of Peru's export drive. President Alberto Fujimori, who is of Japanese descent, has pushed for greater trade with Asia, which now buys about a fifth of his country's exports. Venezuela, Mexico, Colombia, Ecuador and Argentina all depend on oil for much of their export earn-ings, and they stand to lose billions of dollars from falling oil prices caused in part by Asia's woes.

To: HeyRainier who wrote (5807)	1/27/1998 11:24:00 AM
From: Galirayo	Respond to of 9262

[ SFN ] Rainier ... Here's another maybe Important Tidbit. I Assume they are talking about the Same Serfin. Guess I better be ready to open up the Piggy Bank and count my Centavos for a few more shares. Ray biz.yahoo.com Tuesday January 27, 10:50 am Eastern Time Mexico stocks wander down at open, ignore Dow rise MEXICO CITY, Jan 27 (Reuters) - The Mexican bourse shrugged off an early advance on Wall Street and posted narrow losses at the open on Tuesday on what traders put down to lack of investor participation in a market awaiting fresh news. ''Very few foreign investors are stepping in, and the bourse always tends to dip when volume is thin -- at 1.7 million shares, it's shameful,'' a desk trader said. The leading share IPC index (.MXX) was down 3.95 points, or 0.09 percent, at 4,522.61. On Wall Street, the Dow Jones had risen 0.57 percent to 7,757.29 points. ''Few players are selling. Those who are in, are staying in and waiting for a rebound for now,'' another desk trader said. Traders said Serfin (GSRl.MX), up 13 centavos to 2.42 pesos, was one of the few stocks to draw foreign demand following a press report on Monday that J.P. Morgan was in talks to acquire a 20 percent stake in the financial firm. Conglomerate Alfa (ALFa.MX) was the most heavily traded decliner, off 40 centavos to 43.40 pesos on concerns the firm's exports will be hit by Asian competition, dealers said. [Snip]