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

To: DiViT who wrote (33887)	6/17/1998 11:20:00 AM
From: William T. Katz	Read Replies (1) \| Respond to of 50808

China threat to devalue behind Treasury's move to prop up yen? On thestreet.com, they have a news story that maybe the Treasury's intervention was prompted by clear signals from China. Here is a relevant paragraph: More likely it was pressure from China. All week the Chinese have been sending signals that they are desperate for some relief from the yen's collapse. No mistaking their direct threats to devalue the RMB. In the wake of those signals, there has been a lot of pressure on the stock markets all around the world, including the US market. Right now Clinton (always a fast study kind of guy) is putting out the word that he "approves" of the Chinese policy "against devaluation." ... There may be even a few more intervention forays in the next days. Then things will settle down. Japan will not fail to disappoint again. And the yen will begin to fall again. The risk of an Asian meltdown just went up -- not down -- because now we have had the famous intervention. When -- not if -- it fails, the market will know that there is no way to fix the yen in the short-term. Later in the story, it says (obviously) that Japan's problems remain and Japan will probably disappoint again. I'm on sidelines with CUBE given this is warnings season and I don't like this situation. Will reenter when I think things are firming up.