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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: shane forbes who wrote (5573)	5/27/1998 4:06:00 PM
From: David Rosenthal	Read Replies (1) \| Respond to of 10921

Shane, Re: 32 a fair price. I have been thinking about asking this question for a while on the AMAT thread. Way back in March, people started talking about buying if AMAT retreated to 32. In prehistoric times, January 1998, AMAT was available under 30. Were you accumulating then? Why aren't you looking for a better price now? Dave

To: shane forbes who wrote (5573)	5/27/1998 5:38:00 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 10921

UGLY: today's WSJ: Hong Kong shares tumbled on news that Hong Kong Chief Executive Tung Chee Hwa expects negative economic growth as the Asian financial crisis continues to take its toll on the economy. In a speech late Tuesday, Mr. Tung warned, "We are now in the depth of a major economic adjustment, the result of which may be prolonged and painful to everyone." Friday, Hong Kong will release its first-quarter gross-domestic-product figures, which may show the first signs of a recession. In Tokyo, the blue-chip Nikkei 225 average fell 220.53, or 1.4%, to close at 15664.29, erasing all of Tuesday's 101.70-point advance. Losers outnumbered winners 8 to 3 as 320 million shares changed hands. Selling briefly accelerated in the late afternoon as Moody's Investors Service downgraded its ratings of five major Japanese banks and placed four other banks' ratings on review for a possible downgrade. Moody's cited the deteriorating asset quality of the banks. Tuesday on Wall Street, stocks closed sharply lower, as the Dow Jones Industrial Average skidded 150.71, or 1.65%, to 8963.73, its first close below 9000 since May 7. The technology-heavy Nasdaq composite index dropped nearly 27 points, or 1.5%. An extended rout on Wall Street could send U.S. investors scrambling to cover losses at home by dumping Japanese and other foreign stocks. The dollar was quoted at 137.90 yen, above 137.85 yen late Tuesday in New York. The dollar rose as Japanese investors continued to shift funds into U.S. markets in search of better returns. They are fleeing a Japanese stock market that remains in an eight-year rut and a bond market that has seen yields drop to all-time lows. In Jakarta, share prices closed lower on low volume, driven by the fall of shares linked with the giant conglomerate Salim Group. The Jakarta Stock Exchange composite index closed down 17.092, or 3.9%, to 416.967. Dealers said a report by Moody's Investors Service on the banking system in Indonesia, as well as a continuing deposit run at the country's largest privately owned bank, Bank Central Asia, also forced investors to dump their shares. Moody's said Indonesia faces "a broadly insolvent banking system", with as many as 30% to 75% of the banks' loans insolvent or on their way to insolvency. In Bangkok, Thai share prices sank 4% as investors sold on Thailand's bleak economy outlook after the government revised downward its 1998 estimate for the country's gross domestic product. Selling on other bourses further encouraged foreign investors to leave the Thai stock market, dealers said. The Stock Exchange of Thailand index plunged 14.42 to 340.12, compared with Wednesday's close of 354.54. In Manila, the Philippine Stock Exchange Index closed down 49.16, or 2.3%, to 2060.14, extending Tuesday's 15.18-point loss. Wednesday was the fourth-straight trading session in which the Philippine market closed lower, with the index losing a total of 88.47 points, or 4.1%, during the period. Ongoing labor unrest in South Korea because of job losses spawned by the Asian financial crisis and the weakness displayed by the yen against the dollar have also kept most investors in the Manila market in selling mode, traders said.