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

To: kormac who wrote (3900)	5/26/1998 10:36:00 PM
From: MikeM54321	Respond to of 9980

seppo, Stike looks pretty inevitable now. And it's getting nasty. No wonder the markets are down. I read through some Korean newspapers, and I didn't want to even post the articles. They are pretty worried over there. It will be real interesting to see how they this labor crisis works it way out. Last time, the government gave in. This time, they can't. The IMF will withdraw funding if they do. Also, did you see that headline regarding Hong Kong? For the very first time in 13 years, there's a slowdown in the economy. That's big news because it wasn't forecast. It was just announced. MikeM(From Florida) >>Tuesday May 26 1998 South Korea Government Urges Firms to Lock Out Strikers South Korean authorities on Tuesday hardened their line against labour unions that have called on workers out for a two-day strike from Wednesday to protest against layoffs. Prosecutors, in an unusual public statement, urged employers to lock out workers if strikes continued too long. ''The strikes are clearly illegal and we will guide [employers] to apply the 'no work, no pay' policy and discourage any pay negotiations,'' the Supreme Public Prosecutor's Office said. We will guide management to strongly counter strikes with lockouts if strikes continue too long.'' But the militant Korean Confederation of Trade Unions (KCTU) refused to stand down from its call for nationwide strikes. The confederation said it was striking to demand the government prevent massive layoffs and renegotiate conditions for an almost US$60 billion bail-out package by the International Monetary Fund. ''It seems like the strikes are now inevitable as the government is not changing its attitude,'' said Chung Sung-hee, a spokesman for the KCTU, which represents more than 500,000 members and is South Korea's second-largest union group. ''And if the government uses force during the strikes, we will extend the strikes.'' KCTU strikes are scheduled to begin at 0400 GMT on Wednesday and last through Thursday.<<

To: kormac who wrote (3900)	5/26/1998 10:37:00 PM
From: Lee Lichterman III	Respond to of 9980

Agree with answers to my question and sorry to get off subject. One last point though. As Asia lies bleeding tonight, I channel surf through the boob tube and see nothing but cute stories about ridiculous things, then a 5 second snippet at the end of the news... Oh yeah by the way the world economy is crumbling, now back to our story about the kazoo playing poodle... What do you make of the disparity in Bond prices and the market today? Seems like tomorrow should have either a bounce in equities or a slide in Bonds. With what is happening in Asia again tonight, it looks like tomorrow will be interesting. I wonder if this would be a good time to buy Korea telephone for a bounce? Worked last November. PS - Is it my service provider or has SI been slow today? My other sites seem to be working OK.