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Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: John Rieman who wrote (33789)	6/11/1998 11:34:00 PM
From: BillyG	Read Replies (1) \| Respond to of 50808

Re: China's currency statements directed at Japan...... I agree, and in addition, China knows that the U.S. has at least some influence over the yen/dollar exchange rate (and thus the yen/renminbi exchange rate). With Clinton's upcoming trip to China, the Prez may have to help out the Chinese currency if it wants cooperation from China. Re: Cube's decline today........ I hope that it's just technical. Maybe there was a negative "analyst" report comparing ZiVA and the LSI Logic chip, but I don't think that would be enough to hit it by 18% -- plus LSI dropped today. Or maybe some of the insides of new settops were disclosed..... Just speculation, I don't know. For more on the China/yen connection: washingtonpost.com <<In Beijing, China's Premier Zhu Rongji told American officials and visitors in private meetings this week that he believes Rubin should be more vigorous in urging Japan to bolster its currency to prevent wider economic chaos in Asia, diplomatic sources said. Zhu said it was unfair that the United States stand back while the yen tumbles and at the same time press China to hold the line on the value of its currency to prevent a destructive spiral of competitive devaluations. Zhu said he believed that the United States was acquiescing to, or even encouraging, the yen's fall. Publicly, though, the Chinese government focused its criticism on Japan, not the United States. At a regular Thursday afternoon press briefing, Foreign Ministry spokesman Zhu Bangzao said, "We hope Japan and the relevant countries can face reality and use courage and wisdom in taking effective measures to stop the further devaluation of the yen to create necessary conditions for the recovery of the economy." Japanese officials bristled at suggestions that the burden rests on Tokyo to save the region. "If there should be any steps taken to stem the decline of the yen, there should be some market intervention, and Japan can't do it alone," said Toshiro Suzuki, economics counselor at the Japanese Embassy here, referring to government purchases and sales of currencies to influence their value. >>