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To: Bobby Yellin who wrote (14611)	7/17/1998 10:52:00 PM
From: PaulM	Read Replies (3) \| Respond to of 116764

Democrats Back Stock Purchases to Close Social Security Gap latimes.com

To: Bobby Yellin who wrote (14611)	7/17/1998 11:57:00 PM
From: Broken_Clock	Respond to of 116764

xau looking better at weeks end. iqc.com

To: Bobby Yellin who wrote (14611)	7/18/1998 2:31:00 PM
From: goldsnow	Respond to of 116764

changing tide? South Korea's Stock Index Rises To Six-week High, Led By Kepco South Korea's Stock Index Rises to 6-Week High (Repeat) (Drops extraneous word in first paragraph) Seoul, July 18 (Bloomberg) -- South Korea's main stock index rose to a six-week high, led by Korea Electric Power Corp. and financial stocks. Korea Electric Power, which has the biggest foreign-currency debts in Korea, led the index's gains as the won's rise to a seven month high will help reduce its borrowing costs. The benchmark Kospi index rose 13.85 percent, or 4.19 percent, to 344.20, the highest since June 9. ''The won's stability will help relieve companies of borrowing costs, even as it also spikes concern over effects on Korean companies' exports,'' said Kim Kyung Hak, a market analyst at the Korea Stock Exchange. Korea Electric Power, the most active stock by value, rose 5.68 percent to 16,750. The won gained 25 percent per the dollar this year, making it the best performer out of 58 currencies searched by the Bloomberg Analysts. Hyundai Securities Co., Daewoo Securities Co. and other brokerage houses also rose after the Financial Supervisory Board said only four out of 32 brokerage houses failed to meet capital standards at the end of March, the first test for the decision of their fate. The four -- SK Securities Co., KDB Securities Co., KLB Securities Co. and Dongbang Peregrine Securities Co. -- failed to meet capital standards at the end of March and will have as long as three months to come up with their restructuring plans before the government takes the next step, the Financial Supervisory Commission said. Securities Stocks Up ''Securities stocks rose as effects from the restructuring of their sector will be limited,'' said the Korea Stock Exchange's Kim. ''It will help prevent their labor unions from protesting against companies' restructuring efforts.'' Hyundai Securities Co., a unit of Hyundai Group, rose 4.82 percent to 4,350. Daewoo Securities Co., the nation's largest brokerage house, gained 7.59 percent to 7,230. Cho Hung Bank, Commercial Bank of Korea and Hanil Bank, which avoided closure this month, rose by close to the 12 percent daily limit for a second day after the country's top financial regulator backed away from forcing mergers upon three large banks. Sepoong Corp., Kabool Textiles Co. and other industrial group affiliates, which were chosen as beneficiaries of a pact among financial institutions to support cash-strapped companies, also rose on expectations they will get the help from their financial creditors. Sepoong, which produces newsprint paper, rose 11.92 percent to 4,365. Foreign investors, who were net sellers of Korean shares throughout June, bought more than 30 billion won ($22.7 million) more stocks than they sold today. This brought their net purchases this month to almost 230 billion won. bloomberg.com

To: Bobby Yellin who wrote (14611)	7/20/1998 6:26:00 PM
From: goldsnow	Respond to of 116764

Yeltsin fights to save Western aid By Marcus Warren in Moscow PRESIDENT Yeltsin began his summer holidays this weekend trying to plug a huge hole in Russia's finances and persuade the West to back the country's ailing economy with credits. Boris Yeltsin tastes bread and salt during a welcoming ceremony in Karelia on Saturday On the eve of a crucial International Monetary Fund meeting in Washington to approve the first slice of a œ13.7 billion loan for Russia , Mr Yeltsin vetoed two laws lowering taxes passed by parliament last week. Before leaving Moscow for Karelia in the north west, Mr Yeltsin moved to make up some of the œ7.8 billion shortfall caused by the parliament's decision. But one of his senior aides said yesterday that the West was bailing out Russia for the last time. Summer holidays are nervous periods for Russian leaders; Mr Yeltsin has twice postponed his break because of the economic crisis and a wave of protests over unpaid wages. Russian newspapers, many owned by businessmen with an interest in weakening the president, have also been predicting various forms of "change of regime". Both Khrushchev and Gorbachev fell victim to plots hatched while they were away. Mr Yeltsin recently raised the prospect of a coup himself, saying that he was strong enough to stop "extremists" toppling him. Last week's failure by Russia's parliament to pass tax legislation demanded by the IMF further undermined its credibility with the international financial institutions. The IMF is still likely to approve the release of the first œ3.5 billion of the loan today. But parliament's intransigence has only made Russia's case for receiving international aid in the future less convincing. The IMF has imposed conditions on its help for Russia to preventa rouble devaluation which would cause rampant inflation, a banking collapse and political unrest. It demands reduced budget deficits and the passing of the sort of legislation the Duma rejected. "No one, neither the president nor the government, is planning to stand by and watch the budget and the pension fund collapse in ruins," Alexander Livshits, the president's deputy chief of staff, said. "The more so as the international community has met us half way for what I think will be the last time, I mean supporting the rouble on financial markets." Mr Yeltsin, 67, looks in need of a break. He almost tripped down the steps of his jet on arrival in St Petersburg for the burial of the last Tsar's remains on Friday. While the congregation stood, he spent much of the time seated. telegraph.co.uk