Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: tom who wrote (3602)	5/15/1998 9:52:00 AM
From: MikeM54321	Read Replies (2) \| Respond to of 9980

>Will HSBC/Citibank be that different? Citibank has 1,000,000 credit cards in Indonesia and will need to write off at least 80% of that< tom, You may know this already, but Indonesia and Japan were in talks last Friday, Saturday, and Sunday concerning corporate debt. They got nowhere except to say they would meet in a month to discuss it again. Sounds like this won't happen now. If my memory serves me correct the corporate debt, owned to Japan only, is 80 billion US$. Quite a bit for an already shaky financial system in Japan. Do you happen to recall the dollar figure Citibank has at risk in Indonesia? As I recall the entire US exposure in Indonesia wasn't that much. But I could be wrong. Seems like Germany and Japan had the highest exposure concerning corporate debt. Thanks, MikeM(From Florida)

To: tom who wrote (3602)	5/15/1998 3:02:00 PM
From: P.T.Burnem	Respond to of 9980

Will HSBC/Citibank be that different? Citibank has 1,000,000 credit cards in Indonesia and will need to write off at least 80% of that. NEW YORK (Dow Jones)--Citicorp's (CCI) head of global markets, John Rines, resigned for undisclosed reasons, the company said Friday. Rines, who oversaw worldwide capital markets, trading and corporate finance, joined the bank in November 1997 from General Motors Corp.'s (GM) General Motors Acceptance Corp., where he was president. Yet CCI is up almost 3% for the day. Someone is using the turmoil in Indonesia to either close a huge short position or load the boat with the stock. NYSE-listed Indonesian stocks hold surprisingly well: JGF is up 10+%, TLK is flat but well above its Oct '97 low. Go figure... PTB