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

To: Bill Ounce who wrote (7455)	11/10/1998 12:06:00 PM
From: Paul Berliner	Respond to of 9980

Bill, thanks for the Russia article. Round 2 of global turmoil is just beginning.... though this time every last drop of water will be wrung out of the sponge. We'll all look back on what happened in August and point fingers for many years ahead. It really was historic but we don't realize it yet because the effects have not fully taken hold. Anyone putting money into foreign markets now is a fool. Biggs included. If vimpelcom or bank tokyo went to par I still wouldn't want it as those govs. have announced major money printing plans and my investment will lose more in currency translation than I'd make by holding this crap. So stay on the sidelines and watch the show (unless bank tokyo changes its name to banktokyo.com).

To: Bill Ounce who wrote (7455)	11/10/1998 3:49:00 PM
From: Z268	Respond to of 9980

Bill and all, Another perspective on very recent Russian economic experience: washingtonpost.com I think if we take out the word "Russian" and insert the name of any one of half a dozen Asian countries, much of this narrative is very applicable. How long do we think it will take the world collectively to dig its way out of this crater? Best, Steve

To: Bill Ounce who wrote (7455)	11/11/1998 2:19:00 PM
From: Bill Ounce	Read Replies (2) \| Respond to of 9980

SCMP -- Concerns on Hong Kong Y2K via LEXIS-NEXIS web.lexis-nexis.com Think of the fiasco when Hong Kong's new airport opened. Now apply that to every business sector and walk of life that depends on computers to function and you will have some idea of what January 1, 2000, could have in store for Hong Kong. [...] For investors in Hong Kong one of the main problems is that local companies have been required to disclose very little of their Y2K situation. [...]

To: Bill Ounce who wrote (7455)	11/18/1998 11:53:00 AM
From: Bill Ounce	Respond to of 9980

USA Today -- Creditors may topple Russia's banks Is the other shoe about to fall? Will this scare USA markets again? usatoday.com MOSCOW - Now that the Russian government's 90-day moratorium on corporate debt payments has expired, officials here are warning that Western creditors may launch a mass attack on the already crippled financial system. "Our banking system may topple this week," says Alexander Shokhin, head of the liberal Our Home is Russia faction in the Duma, Russia's parliament. [...] "If they cannot pay, (Russian) banks will have to cope with angry creditors trying to seize their assets abroad." The result would be that Russian banks would lose their access to capital markets for "an indefinite time," Malleret says. [...] Russia owes the world about $150 billion, of which $3.5 billion in interest and principal is due by the end of the year, and $17.5 billion is due in 1999. Payments due by the end of the year include $1 billion in interest on debt Russia assumed when the Soviet Union collapsed in 1991 and two Eurobond coupon loans provided by European countries. Next year, Russia needs to make payments to the International Monetary Fund. Under an agreement reached when international institutions poured billions of dollars into Russia last spring to avoid what now appears to have been the inevitable - the August default and devaluation - Moscow must pay back $5 billion of a $23 billion loan. The money to pay those debts supposedly is in the central bank's reserves, which now stand at $13.3 billion. Now, in the throes of drawing up its 1999 budget, Moscow faces the task of prioritizing which debts to service next year, given the amount of hard currency the government has on hand. [...] By Anne Nivat, special for USA TODAY COPYRIGHT 1998 USA TODAY, a division of Gannett Co. Inc.