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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: kormac who wrote (5811)	8/23/1998 11:09:00 PM
From: Joseph G.	Respond to of 9980

Another state support: <<TAIPEI, Aug 24 (Reuters) - Taiwan's share index sank to fresh 1998 lows at mid-morning on Monday, falling through crucial support at 7,000 points as mounting concerns over global markets prompted investors to dump stocks, brokers said. * After 70 minutes at 0210 GMT, the index had tumbled 226.20 points or 3.14 percent to 6,987.17 on turnover of T$39 billion. * Alex Chen, research manager, HSBC Securities Taiwan: ''With stocks tumbling everywhere, sentiment is very pessimistic. It is like a vicious circle and investors are running for cash.'' * Brokers nonetheless saw state-related funds entering to support the market after the index dived below 7,000 points. * The index crawled back to above 7,000 points to 7,026.50 at 0245 GMT on state buying.>>