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Shane, thank you for enlightning lucky OZ.
Brief: Noticed the OZ-dollar and AO-index have regained their ST-up momentum
as well as most other western industr. worlds indexes so if the markets can hold,
we all might be in for a summers rally.
I expect for the coming 1-2 weeks an absorbing period, before we can go up futher.
(with referencing this weekends "Japan in details"-mail(Subj. "Win98") send to the List)
Regards,
Ton Maas
Ms-IRB@xxxxxxxxx
-----Oorspronkelijk bericht-----
Van: Shane M Johnson <smj0@xxxxxxxxxxxx>
Aan: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Datum: zondag 28 juni 1998 11:22
Onderwerp: 2000+ stocks of the ASX market
>Ton, the Oz stock market is represented by the All Ordinaries Index (AOI)
>for the Australian Stock Exchange (www.asx.com.au) and has a futures
>equivalent called the Share Price Index (SPI) run on the Sydney Futures
>Exchange (www.sfe.com.au). Both good sources of reference info and daily
>data.
>
>For 10 min delayed data, the Salamon's Smth Barney web site
>(www.ssmb.com.au/at_a_glance.html) is great for Indexes (and for the Aussie
>dollar and a host of international indexes on delay).
>
>As for which stocks, well the negative sentiment on Asia is all over the
>market here, with few stocks in uptrends. Some exceptions are Telstra
>(TLSCA) the OZ phone company and News Corp (NCP). There are plenty of
>bargains due to stocks being oversold on asia, even if they don't have a
>link (via sales) to that region, but until the market phsycology changes,
>its still a bear run at the moment. BHP has ben running down from $20 to
>$13 over that last 6-9months, but has finally announced a write off of
>$3billion which may see things change. Qantas is still being impacted by
>Asia, with 747's now being used domestically, due to lack of international
>travellers. All the banks (ANZ, NAB, Commonwealth etc) have done sideways
>of late due to the AUD falling and the "potential" for interest dates to be
>bolstered to hold the currency. No change yet! Even the company I work for
>(Orica - ORI, formally ICI) has had its shares fall from around $12-13 to
>$9 on the basis of Asia, even though we only sell around 7% of sales to
>that region. Many rate it as a good buy (strong Explosives sales worldwide
>and a div yield of 5%+++) , but dare I say that given that I work there and
>have shares in the company!. Many a poor sole bought China Constructions at
>90c, then 80c, then 60c on the basis of the potential of China. Last time I
>looked it was still heading down at 37cents. The Asian risk again.
>
>The Australian and NZ currencies will never come together, too much pride
>bvetween the countries. An asian dollar, well not talked about, but when
>the Euro comes into being, we might see some discussion???
>
>With the Oz dollar falling so much, I know that many of the resource
>companies are now looking like bargains to the US and Candadian
>investors/mutuals and corporations. Rumours often flow into the press, but
>as yet, most resources stocks are still yet to bounce back up.
>
>regards
>
>Shane
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