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: MikeM54321 who wrote (4438)	6/12/1998 7:22:00 AM
From: MikeM54321	Respond to of 9980

Late breaking fallout news concerning Japan and it's effect on others. I posted these because it's a good example of the domino effect Japan's problems may have on other. It goes around and around the world. Maybe the fourth story would/should be something concerning the US markets. MikeM(From Florida) ******************************** Dollar Sets Second 8-Yr High vs Yen; Japan Sinks Into Recession The dollar rose to a second eight-year high against the yen as the U.S. prodded Japan to resuscitate its economy, a task that appears more daunting after a report showed the country sank into recession. The yen's weakness ''can only be remedied by restoring economic strength in Japan,'' not by the U.S. helping Japan buy yen, U.S. Treasury Secretary Robert Rubin said yesterday. Japan reported its first quarter gross domestic product contracted for the second straight quarter, sending the country into recession for the first time in six years. The economy shrank 1.3 percent in the quarter and 5.3 percent annually. SE Asian Currencies Fall as Yen Slides to 8-Year Low Southeast Asian currencies extended their losses after the yen plunged to an eight-year low against the dollar, sparking concern of a sharper slowdown in the region's economies. The Indonesian rupiah fell 5 percent to 14,575 to the dollar, while the Philippine peso dropped 1 percent to 40.47. The Thai baht tumbled 1.26 percent to 43.60 and the Malaysian ringgit fell 1.9 percent to 4.0553. The Singapore dollar declined 1.4 percent to 1.7570 to the U.S. dollar. European Stocks Fall as Asian Recession Threatens Exporters** European stocks fell, led by LVMH SA, Diageo Plc, Philips Electronics NV and other companies that rely on their Asian profits, as stocks in emerging markets stumbled and Japan slipped into recession. Germany's DAX Xetra fell 2.13 percent, the most among Europe's benchmark indexes, led by Allianz AG, Europe's largest insurer. Japan's economy fell into recession or the first time in six years, shrinking 1.3 percent in the January-March period, government figures showed today, the second straight contraction.