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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (13763)	2/2/1998 5:25:00 PM
From: Cynic 2005	Respond to of 18056

It looks like I may not get to write an elaborate note on Indian markets. I will chip in with bits and pices of info. SE Asia/currency: Unlike the other countries in the region, corporate India is not exposed to huge amount of debt in foreign currency. Also, the currency is not fuly convertible - a speculative attack is unlikely. Domestic consuption of goods and services looks healthy, but slower than in the recent past. Politics/Govt./Elections: Unstable govt. is one of the reasons for the stock market's retreat. If a stable government emerges from the coming elections, things could stabilize. However, there are weaknesses in the economy caused by over-capacity in almost everything (see below or a later note.) Congress and the left-wing parties are successfully capaigning against the BJP as a communal force and as a protectionist party. Minority religions, especially Muslims, appear nervous about the prospects of BJP coming to power, which seemed almost certain before Sonia Gandhi started campaigning for the Congress party. However, BJP reiterated its commitment to economic reforms and I personally don't think that it is easy to reverse course for any govt. ...to be continued.

To: Mike M2 who wrote (13763)	2/2/1998 5:33:00 PM
From: MythMan	Read Replies (1) \| Respond to of 18056

Mike, why do you think the Fed has acted irresponsible? Interest rates are low, employment is up and PPT is ready to act. As for SEA, heck the GDP of many of those countries is less the market cap of any of the OEX top 50. Relax, have brew <g> Pete