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

To: tom who wrote (1881)	2/3/1998 2:47:00 PM
From: Rational	Read Replies (1) \| Respond to of 9980

Tom: There is a virtual currency board in Jakarta at this moment, thanks to IMF, US, Japan, and Singapore. The only fear is political uncertainty because the wily general Suharto can do anything, although recently he is getting into the Kim DJ mold announcing that he would do everything to build the confidence in the financial markets. Sankar

To: tom who wrote (1881)	2/3/1998 4:27:00 PM
From: Worswick	Respond to of 9980

See Danderso next post for the true picture. It's not rocketing. It won't rocket. Things are not right in OZ. Reaching into the secret cabinet I have to pull out the words of our other almost invisible professor on this thread. Professor Beltz of Hong Kong University. From: +Jess Beltz Monday, Feb 2 1998 8:49AM EST There is basically two reasons why Asia is up big today: the simultaneous occurence of Chinese New Year and the end of Ramadan. Today was the first trading day after the moslem month of fasting ended and the Chinese Lunar New Year holiday, and so a lot of investors are in a very good mood. AND, they desperately want to believe that the worst is over in this part of the world. Unfortunately, I think a lot of these poor souls are going to lose money in the coming months. I too desperately want to see this mess bottom out. Unfortunately, most of the mess stems from the Japanese banking sector, and, God bless their souls (;-)) they've just found a way to keep their banks from recognizing bad loans for another what, 18 months or so. They've fixed nothing that's really wrong with their banking system or economy. They're playing the same game that Keating and Jim Wright were while refusing to recognize the mess in the S&Ls, that being that if the market turns around, the problem will go away by itself. Also, refusing to recognize the bad loans helps keep their shredded capital ratios above water so they can keep lending. Otherwise, they'd be shut down and HAVE to have massive outside equity infusions to avoid the ultimate credit crunch. You'll notice that the Nikkei was largely absent from today's euphoria. I'd suggest you all buy Greyhound. Amex: "Bus". I haven't yet found how this company is exposed to the Asian contagion.