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

To: Otimer who wrote (6760)	9/27/1998 9:29:00 AM
From: Stitch	Read Replies (1) \| Respond to of 9980

Otimer, I am one who subscribes to Zeev's minimelt theory in that I think we will see a small near term rally but expect the feds will not lower interest rates (and hope they do not). So yes, we may see a short rally here but Wednesday it could be over. I then expect to see some gyrations in the market, volatility, especially in tech sector, and foreign markets also. Then, with approach of earnings reports, I would expect to see another significant correction...I would not be surprised by a 7200 dow. Best, Stitch

To: Otimer who wrote (6760)	9/27/1998 5:07:00 PM
From: Robert H.	Respond to of 9980

Unless you read this. ... Sunday September 27 1:01 PM EDT Sources Report Japan's Biggest Bankruptcy TOKYO (Reuters) - Japan Leasing Corporation filed for bankruptcy Sunday in the country's biggest financial failure -- involving 2.2 trillion yen ($16.1 billion) in debt -- since World War Two, authoritative sources said. Japan Leasing Corporation was one of three non-bank affiliates of troubled Long-Term Credit Bank of Japan Ltd. (LTCB), whose future had held up agreement between Prime Minister Keizo Obiuchi's government and opposition parties about legislation to get Japan out of its economic recession. Opposition parties had opposed a government plan to use public funds to keep LTCB afloat. The authoritative sources said the company filed for bankruptcy with a Tokyo court late Sunday. Japanese media reports said major lenders to Japan Leasing Corporation were Sumitomo Trust, Mitsubishi Trust and LTCB.