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  1. Crisis memory fades as 1997 levels regained

    Posted Oct 17th 2007, 12:00am by Tom Holland

    ... of the regional crisis. It is likely the won would have appreciated even more against the US currency without central bank intervention to stop it rising too much relative to the Japanese yen. However, ... by the end of next year, surpassing its level at the start of the 1997 crisis. Other regional currencies are widely expected to climb, too, over the next 12 months, including the Malaysian ringgit ...

  2. Watching out for the big one

    Posted Mar 29th 2007, 12:00am by Tom Plate

    ... currencies. The regional currency crisis swept from east to west, until it started lapping at the shores of the US- at which point, and only at this point, did Washington forcefully intervene. ... disorder: ever since the summer of 1997, when the Thai baht almost went bankrupt, he slides into depression whenever there's news of an Asian currency in trouble. This stress disorder, he said, ...

  3. Asia's reserves are fine where they are

    Posted Jul 19th 2007, 12:00am by Tom Holland

    ... in Sydney, Reserve Bank of Australia governor Glen Stevens criticised Asian governments for their massive accumulation of foreign exchange reserves. Since the regional currency crisis 10 years ago, ... currencies, which would cause massive appreciation, undermining manufacturing competitiveness and pricing farmers out of their own markets. The investment would hurt the very people it was intended ...

  4. HK dollar being sold short, but don't panic

    Posted Apr 16th 2007, 12:00am by Tom Holland

    ... Tom Holland Don't panic, but international speculators are once again targeting the Hong Kong dollar. Just as in the bad old days of 1998 during the Asian currency crisis, investment banks are advising their hedge fund clients to sell the Hong Kong dollar short against the US currency. This time around, however, they are not expecting to make huge profits from breaking ...

  5. Ten years on, Asia's policies risk a new economic crisis

    Posted May 11th 2007, 12:00am by Tom Holland

    ... financial crisis in the region'. At first glance Asian governments appear to have successfully corrected the economic weaknesses that led to the 1997 crisis. They no longer peg their currencies ... the conditions for a second and equally damaging regional crisis. Superficially Asia's economies appear in much better shape today than they did 10 years ago on the eve of the Thai devaluation. ...

  6. SFC eases limits on futures contracts

    Posted Sep 15th 2007, 12:00am by Enoch Yiu

    ... of a package of government measures introduced during the 1998 Asian financial crisis to prevent manipulation of the stock and currency markets. The SFC also plans to scrap the other major restriction imposed during the crisis, the short tick rule limiting the selling of borrowed shares in a down market. The position caps are set at different levels, depending on the product, and anyone ...

  7. Gallant Gallstone rides in as bogeyman for East Asia central bankers

    Posted Jan 23rd 2007, 12:00am by Jake Van Der Kamp

    ... that the ailment is widespread. What happened here essentially is that the central banks of Asia resolved after the 1997 financial crisis to build up their defences against the currency speculators whom they accused of causing their problems in that crisis. It was a false accusation. The causes of the crisis lie with the central banks themselves in that they attempted to rig their currencies against ...

  8. Roller-coaster ride

    Posted Apr 09th 2007, 12:00am by Tom Holland

    ... Yacht Britannia vanished into the mist, than the city was plunged into the turbulent depths of the Asian currency crisis. Activity rebounded during the brief flare of the dotcom boom, only ... boom. Just one day later, people had breakfast to the news that Thailand had been forced to devalue its currency under speculative pressure from hedge funds. The Asian economic crisis had ...

  9. FYI: Why, when one stock market tumbles, do others follow suit?

    Posted Apr 08th 2007, 12:00am by Staff Reporter

    ... financial crises spread rapidly. During the Asian financial crisis of 1997, currencies came under intense pressure as speculators looked for weaknesses across Southeast Asia. The collapse of markets in Thailand and Indonesia caused a global financial crisis, with significant effects felt as far away as Russia and Brazil as investors quickly lost confidence in emerging markets. In October 1987, ...

  10. Gulf states a lesson for HK's economy

    Posted Sep 05th 2007, 12:00am by Tom Holland

    ... crisis. Because of our currency peg, that would drive Hong Kong rates lower, which could push up property prices, and press the rental component of local inflation higher. Hong Kong ... with a sizable population of Filipino migrant workers. Until earlier this year, Kuwait shared one more similarity with Hong Kong. It pegged its currency- the dinar- to the US dollar. In May, however, ...




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