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

To: MGV who wrote (7221)	8/28/1998 12:55:00 AM
From: MGV	Respond to of 22640

Argentine bolsa head says selling "unprofessional" biz.yahoo.com Eugenio de Bary, president of the Buenos Aires Stock Exchange, told journalists big investment funds were selling ''without thinking'' to recoup losses made in other markets. ''I think this way of operating is absolutely very unprofessional, and at some given time the investment banks will have to do something with regards to it,'' de Bary said." Yes, like exploit the heck out of a pricing inefficiency! De Bary said the current low stock prices should be considered ''a gift.'' I can't disagree with his last point but, somebody needs to tell this guy how free markets are supposed to work.

To: MGV who wrote (7221)	8/28/1998 1:03:00 AM
From: MGV	Respond to of 22640

FOCUS-Asian markets dive on U.S. fall, Russia fear biz.yahoo.com Asian markets plummeted early on Friday as investors rushed for the exits after Wall Street's overnight slump, and Japanese shares crumbled to a 12-year low. Markets from Australia to Malaysia lost between three and four percent of their values after the U.S. sell-off appeared to confirm fears of a global economic downturn unleashed by Russia's meltdown. Tokyo's 225-share Nikkei average sank below the critical 14,000 level, falling more than four percent to touch 13,792.76, its lowest level in just over 12 years. The index then clawed its way back to 14,128.97, down 1.98 percent, by 0314 GMT. The yen stood at around 141 to the dollar. Economists said there was no end in sight to the carnage. ''Investors in emerging markets, those who have not already pulled their money out of Asia, will simply pull the plug and take these markets to historic lows,'' said Grant Fitzner, an economist at HSBC Markets in Sydney. ''Overall sentiment is very bad on fears a global recession may come true,'' said a dealer at a local brokerage. ''Best thing is to hold on to your cash.'' Japanese Finance Minister Kiichi Miyazawa called for calm as the stock market trembled, but sounded a note of caution about any government measures aimed purely at propping up share prices. The dollar dropped more than one yen in early Tokyo trade, battered by Wall Street's fall and worries over Russia. The greenback dipped as low as 140.20 yen on waves of stop-loss sales and profit-taking, but firmed later to trade at around 140.65 yen in mid-morning. Japan's top financial diplomat, Eisuke Sakakibara, told Reuters he would not be surprised if the yen continued its rise, and currency traders said the U.S. currency remained under strong selling pressure.