From: john@jho.com (John Ho)
Subject: WEEKLY FUTURES MARKET
Summary: WEEKLY FUTURES MARKET
Keywords: future market
Organization: JHO Company, Dallas, Texas USA
Date: Tue, 29 Dec 92 14:04:20 GMT

I am posting this article for my friend from Taiwan.  

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
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John:
Would you please upload the following article to
social.culture.Taiwan for me.  I haven't been able to reach @
pacific.mps.ohio-state.edu.
                            _______________

F: }$ O4 FK DX KD M5 D' cC!) (Comments on the following
presentaion are welcomed!)

                        WEEKLY FUTURES MARKET
                    Dec.16 - Dec.23 REVIEW PERIOD


     Futures Contract                          Profit/Loss %*
     01/93 Crude Oil                                   +36.00
     02/93 Gold                                        -39.85
     03/93 Silver                                      -25.24
     01/93 Platinum                                    -32.10
     01/93 Copper                                      +35.24
     03/93 British Pound                               -73.15
     03/93 Canadian Dollar                             +11.39
     03/93 DMark                                       -64.81
     03/93 Swiss Franc                                 -91.38
     03/93 Yen                                         -48.13
     **    Taiwan Dollar                                +4.74
     03/93 U.S. Dollar Index                           +48.00
     03/93 Nikkei Stock Index                          +34.48
     03/93 S&P 500                                     +36.25
     **    Taiwan Stock Index                          -37.80
     03/93 U.S. Treasury Bond                          +50.93
     03/93 U.S. 10 year Treasury Notes                 +46.29
     03/93 Cocoa                                       +24.44
     03/93 Coffee                                       -2.81
     03/93 Cotton                                      +30.00
     02/93 Pork Bellies                                -33.33
     03/93 Sugar                                         0.00
     01/93 Soybean                                     +26.62
     01/93 Soybean Meal                                +27.78
     01/93 Soybean Oil                                 +45.56
     03/93 CRB Index                                   +26.25

          Source:  Paul C.  Y.  Huang, Taipei.  Mr.  Huang
     specializes in economic-financial consulting, investment
     management, and training for professional financial licenses.
     Tel. & fax:  (02)729-0603.

          ** These "equivalent contracts" are included here for
     comparative purposes.
          * Profit/Loss calculations are changes in Wednesdays'
     closing prices relative to the respective exchange's initial
     margin deposit requirement of one futures contract.

                           ____________________

     Taiwan's equity market -- triple bottom?

     Taiwan's equity market was the worst perfoming one among the
     selected bourses.  Share prices plummeted after the news that
     the ruling party won only 53% of the vote at the legislative
     elections, far lower than the expected 60%.  During the week,
     the weighted price index plunged 226 points, or 6.2%, to
     3448.15 by the close Wednesday.

     Looking at charts formation, however, Taiwan's equity market
     has the making of a triple-bottom formation.  With a forecasted
     economic growth rate of over 6% for 1993 and many shares priced
     close to book value, the down-side potential of the local equity
     market is perhaps limited.

     Also, the current .006% stock transaction tax is likely to be
     lowered or eliminated early next year to induce more
     individuals' participation.

     Another potential booster to share prices in the new year is
     the billions available from the newly authorized investment
     trusts which have been asked by the Ministry of Finance to
     invest at least 75% of their resources in the local market.

     Still another reason for assessing that Taiwan's equity market
     may be forming a triple bottom is that many financial analysts
     are forecasting healthy earnings growth for several major stock
     markets in the world -- particularly those in the United
     States, Japan, Great Britain, and France.  The study conducted
     by Institutional Brokers Estimate System of New York, for
     example, concluded that the four markets should show average
     earnings growth of 19.75 percent.  Others believe, however, an
     average growth rate 10 - 12 percent is more likely.

     U.S. Dollar's strength

     During the week, U.S. dollar continues to gain against all the
     European currencies. The Deutchmark, in particular, has been
     undercut by comments on Tuesday from Helmut Schlesinger, the
     Bundesbank president. He implied that German interest-rate cuts
     might be forthcoming in the near-term.

     Also, the Bank of Italy's interest rate cut on Tuesday also
     booted the dollar.  Italy, which has withdrawn the lira from
     the European Monetary System's exchange-rate mechanism, is
     seeking to stimulate its economy.

     Reform on Nikkei Contract

     The popular Nikkei futures contact on the Osaka Exchange is
     based on the Nikkei Stock Average of 225 publicly traded
     Japanese companies. The average is the sum of all the 225 stock
     prices that make up the index, divided by one number. It is not
     weighted to allow for differing number of outstanding shares,
     so the same sum of money invested in certain shares has a wildly
     disproportionate effect on the stock index.

     A proposal has been put forth to weigh the different stocks by
     the respective capitalization.  For example, National Telephone
     and Telegraph (NTT) is currently about 0.3% of the index; if
     capitalization weighted, NTT would become 5.5% of the index.


                        _________________________

Bill,

The above listing of contracts is a representation of the
contracts that have reached a degree of local popularity.  It
should not be implied as a recommendation in any way.  BTW,
with all your other sources of information, you may find the
presentation boring or irrelevant.  If so, please let me know
and I'll stop sending it.

Regards,

Paul

-- 
John Ho from Dallas, Texas USA. (john@jho.com)   
Newsgroups: soc.culture.taiwan