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

To: Worswick who wrote (2476)	3/3/1998 8:02:00 PM
From: B Tate	Read Replies (2) \| Respond to of 9980

Worswick Malaysian currency down from early morn (tues.)3.68 to late afternoon of 3.83 on news. Bank Negara says that SIME Bank lost 1.5B last year. As I told you before about half (800M) was due to one margin account in the Sime Brokerage. The rest of the financial sector took heavy losses in afternoon trading. SDarby also took a haircut of 24sen down from 4.42 to 4.18 if memory serves me right. Heavy trading in Ringgit due to Bank Negara indicating more problems in the financial sector. Gov't has been talking about mergers etc. to clean up sector, but nothing happening. bt