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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: JohnN who wrote (6271)	8/4/1998 5:21:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Back. Been drivin' all night it seems. Probably work while I sleep in tommorow, with the TV in the bedroom on CNBC. Lousy day. Still optimistic. Lookin' like tomorrow may be an up day! Let's see how she reacts. Appreciate everyone kicking in and keeping things alive! Didn't take my computer, but kept an eye on CNBC and kept in contact with my broker. I believe this is the confusion period many analysts predicted. By the time they start listing, investors will have had ample time to digest all information available...still believe we'll see a pop. Guess the big queston remains whether listings will be sooner or later. Gotta remember though that from a news standpoint Brazil warms up as the week progresses...for that matter some of the better daily news comes quite late. Need the listing news! I think we might be ready to take 'er back up. sf

To: JohnN who wrote (6271)	8/4/1998 5:22:00 AM
From: Steve Fancy	Respond to of 22640

Japanese ministers go on offensive to protect yen Tuesday August 4, 1:09 am Eastern Time By Brian Williams TOKYO, Aug 4 (Reuters) - Japan's beleaguered new government went on the offensive on Tuesday to protect the sagging yen, warning global financial markets to beware of central bank currency intervention. With polls showing the popularity of Prime Minister Keizo Obuchi's administration at a record low just four days into its life, his economic mandarins, including Finance Minister Kiichi Miyazawa, sent a clear message that a weak yen was neither in the interests of Japan nor of the world. On a day of wide fluctuations, with the dollar rising above the 146 yen level and then falling back below 145 yen in just a few hours, both Obuchi and Miyazawa scheduled meetings with U.S. ambassador Thomas Foley. The mid-145 yen level was last seen in mid-June, before the monetary authorities of Japan and the United States intervened to support the yen. Miyazawa said markets misinterpreted remarks he made last week to mean market intervention was unnecessary. ''My statements may have been insufficient or sent the wrong message,'' Miyazawa said. ''It was not my intention (last Friday) to say that interventions are unnecessary.'' ''It is unavoidable for us as monetary authorities to intervene in foreign exchange markets so that we can counter disruptive moves in the markets.'' At separate news conferences Economic Planning Agency chief Taichi Sakaiya and Trade Minister Kaoru Yosano joined in the chorus. Yosano said it was a matter of course for countries to conduct joint intervention ''when a currency is under speculative attack.'' "It is of common interest for the world economy," he added. Sakaiya said further yen weakness would not be favourable for Japan or the world because it would cause trade imbalances and possibly increase the flow of Japanese capital overseas. ''Markets often move excessively, but they eventually correct themselves. However, the current yen level is excessive,'' Sakaiya said. The dollar had hit a seven-week high of 145.89 yen in New York on Monday, in a reflection of market uncertainty over the ability of the new Japanese government to revive Tokyo's recession-hit economy. Opinion polls published by Japanese newspapers on Tuesday showed low public support for Obuchi and his government. A survey by the Mainichi Shimbun found 48 percent of respondents said they did not support the Obuchi cabinet -- the highest disapproval rating for a new government since the newspaper began conducting such surveys in 1960. A poll conducted by major financial daily Nihon Keizai Shimbun found 50.9 percent of respondents disapproved of Obuchi's government. The Mainichi survey found just 25 percent said they supported the Obuchi government, while the Nikkei survey gave a support rating of 25.1 percent. Polls by the Asahi and Yomiuri Shimbun newspapers released earlier in the week also showed record high public disapproval ratings. At his news conference Miyazawa had good news for consumers, saying changes to Japan's tax system now being discussed will result only in tax cuts and that the total could swell beyond the six trillion yen ($41.3 billion) that had been expected. ''At this stage, they must be tax cuts,'' he said. ''As far as I'm concerned there will be no tax raises this time.'' Miyazawa said he would like to couple a cut in the top income tax rate, already promised by Obuchi, with across-the-board fixed-rate income tax cuts. ($1 equals 145 yen)

To: JohnN who wrote (6271)	8/4/1998 5:25:00 AM
From: Steve Fancy	Respond to of 22640

These guys are something else... ''At this stage, they must be tax cuts,'' he said. ''As far as I'm concerned there will be no tax raises this time.'' So, in other words, no increases? sf

To: JohnN who wrote (6271)	8/4/1998 5:48:00 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 22640

Russia up 25%? SOURCE? Data Error? Where did you find this number? For me that is at least questionable I watched the RTS Stock Index which is down 2,68% at 145 I went thru different ADRs on German Exchange right now like Gasprom, Vimpelcom, Tatneft, Ros Telekom. Nothing is up. It may have been a data error. Referring to the Moscow Times Index (Local) which was up at Value of 389.85 is now down the 23% again at 298.99. The other indices did not show this increase, also neither the major Russian Equity, nor the USD denom. Moscow Time index. What is true is that I have been burned on TBR as well, it didn't even help buying in at pre auction level of 113. Any news about price targets, recent developments brazil from the big investment houses? Any comments are welcome Christian