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Technology Stocks : INDONESIA'S PT TELECOM(TLK) -- Ignore unavailable to you. Want to Upgrade?

To: stockid who wrote (230)	2/3/1998 8:42:00 PM
From: Rational	Read Replies (1) \| Respond to of 947

True, TLK is Indonesia and vice versa and they will rise or fall together. TLK has been vulnerable to currency speculators -- mainly the heavily indebted Conglomerates (in short for wealthy ethnic Chinese) who (as per reports from Asia) have waged a modern-day coup on Suharto to force him into submission (guarantee their debt) and who almost succeeded when Suharto backed away from the IMF plan as the plan resulted in severe banking panic in November. These guys are still shorting the stock in NYSE to bring down the Jakarta index value tonight. However, the currency is strengthening tonight; thus despite some profit-taking, TLK is unlikely to fall much in Rp terms. I am expecting these short-sellers to get burnt tomorrow. At the current exchange rate, the price should be 5000*20/9500 = $10.5. Sankar Sankar