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True - but alot of people (myself included) believe that Asian markets
outside of Japan have bottomed, and that might say otherwise. I do not
think it would be the end of the world, but charts say this top in
NASDAQ is bad news at least s-t.
Alan Myers wrote:
>
> One thing that I don't understand is why such a move by China (devaluation)
> seems to be so feared. How much worse can it get for S.E. Asia?
>
> ~Alan
>
> -----Original Message-----
> From: TheGonch <Daniel.Goncharoff@xxxxxxxxxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Thursday, January 21, 1999 8:23 AM
> Subject: Re: Devaluation question
>
> >The HK$ is pegged to the US$. The reminbi (sp?) is not convertible but
> >is effectively maintained by the Chinese govt, and there has been talk
> >of the Chinese 'floating' its currency by refusing to support current
> >levels, which is most similar to the Brasilian situation, where they
> >were not strictly pegged, but attempted to manage the deterioration of
> >the exchange rate over time.
> >
> >DanG
> >
> >Andrew wrote:
> >>
> >> At 05:12 PM 1/21/99 , you wrote:
> >>
> >> You mean HK dollar.
> >>
> >> >China gets the focus now as the biggest economy pegging its rate.
--
Steven W. Poser, President
Poser Global Market Strategies Inc.
http://www.poserglobal.com
Tel: 201-995-0845
Fax: 201-995-0846
Email: swp@xxxxxxxxxxxxxxx
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