Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Lee who wrote (84850)	12/11/1998 9:54:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

TWO signs of turnaround in ASIA. Lee: Here is an interesting article on Asia. ============================================= Published Thursday, December 10, 1998, in the San Jose Mercury News Two signs of a turnaround in Asia New York Times WASHINGTON -- In two signs that the global economic crisis is easing, South Korea said Wednesday that it was immediately paying back nearly $3 billion in emergency loans that kept it afloat last year, and China successfully raised $1 billion from foreign investors. The South Korean move was a sign that the country, still deep in recession, now felt confident enough to draw down its reserves to repay the International Monetary Fund. The Chinese move to raise money on Wall Street -- with a bond offering in such demand that the country raised twice as much money as had been expected -- made it the first emerging-market economy in Asia to issue international bonds since the Russian default in August. Neither event by itself is evidence that the crises are over. But both are indicators that investors around the world take into account when they decide when a panic is over. The IMF, which has been desperate to declare a restoration of confidence in the markets, immediately seized on the South Korean repayment as a sign that the country had hit bottom. IMF managing director Michel Camdessus called the repayment an ''important watershed in the process of Korea's emergence from last year's foreign-exchange crisis.'' The bailout of South Korea, which the fund led, totaled $58 billion. The country drew on just part of that to meet its obligations this year. China's move, raising money that a country with $144 billion in foreign reserves really does not need, was a sign that investors still hungered to invest there, despite continuing risks elsewhere in Asia.