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To: Terry Rose who wrote (21881)	10/17/1998 5:22:00 PM
From: goldsnow	Respond to of 116764

"No one knows what the hell they are doing" Right, Terry, isn't it this a great line....Especially when comes out of Occupation, where one is considered to be a Genius in his/her own right when 51% correct in a given year....So we now supposed to take a cue from them....

To: Terry Rose who wrote (21881)	10/17/1998 6:27:00 PM
From: goldsnow	Respond to of 116764

Asian Stock Surge Predicted To End Friday, 16 October 1998 S I N G A P O R E (AP) A STOCK buying spree that boosted Asian markets after this week's surprise U.S. interest rate cut will likely drop off quickly in regional stock exchanges, analysts say. Underlying problems which have acted as a drag on local markets - such as the prolonged economic slump in Japan - show few signs of going away anytime soon. "We remain extremely pessimistic about Asian markets," Desmond Supple, director of emerging market economic research at Barclays Capital Asia, said Friday. Asia's dramatic economic downturn began more than a year ago, setting off recessions across the region. But Asian stocks may hold onto their gains in the very short-term, particularly as European and American fund managers bargain hunt. "We expect this liquidity-driven rally to last at least for the next few days," said Edwin Tay, research manager at BT Brokerage and Associates. "I want to emphasize the fundamentals may not change materially." Optimism that the U.S. interest rate cut would ease a global credit crunch and aid prospects for a regional recovery fueled the sharp gains across the Pacific rim on Friday. Hope was king for at least a day in Asia. Japan's benchmark 225-issue Nikkei Stock Average posted its first gain in four trading days, advancing 285.17 points, or 2.19 percent, to close at 13,280.54. Fund managers, discounting doubts about whether new laws will actually buttress Japan's shaky banking system, poured in money to catch the bullish wave. "If they're buying in Asia, it's a short-term buy," Supple said. "The problem is, this rally could create seeds for a far deeper downturn, down the line," when the cash tide ebbs. Hong Kong's blue chip Hang Seng Index soared 806.59 points, or 8.9 percent, closing at 9,777.01, its highest level since May 11. The Hong Kong Association of Banks announced a quarter percent cut in its key deposit rate, and several commercial banks followed suit. Those snips "will be reflected on the Hang Seng into the next few trading sessions" in the coming week, said analyst Christy Tan, of Singapore's IDEA financial house. The Straits Times Index in Singapore leaped 94.85 points, or 9.3 percent to close at 1119.60, the biggest gains since February. News reports in Singapore referred to "a sea change in global sentiment toward the region," and defined the U.S. move as "a strong sign of confidence in Asian markets." Andrew Fernow, research director for Vickers Ballas Hong Kong Ltd. was one of many analysts who doubted the region-wide rally on Friday. "Asia is mired in a crisis with massive debts overhanging and enormous deflation pressure," he said. "To suggest that the problem can be dealt with overnight or with a few rate cuts in the U.S. is just absurd."