Word: hangings
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Duritz prefers the college scene to other venues. "Places like Great Woods [the large summer venue in Mansfield, Massachusetts] are so far out there that there's really no place to hang around afterwards and meet people," he says. "And that's what it's all about." Playing smaller venues that are more city-oriented offers him the opportunity to hang out after the show at local bars and clubs, sign some autographs and most importantly, talk to fans...
After a brief rest, Hong Kong investors are back to worrying about interest rates, reports Money Daily. Following a relatively upbeat 99-point loss yesterday, the blue-chip Hang Seng index Thursday tumbled 269.19 points, or 2.5 percent, to close...
...billion in foreign reserves to fight off speculators and keep its highly valued currency pegged to the U.S. dollar at a rich 7.8-to-1 ratio. The gambit succeeded--but at a price: $42 billion of Hong Kong's storied wealth disappeared in short order as the Hang Seng index dropped 6% on Wednesday, then 10.4% on Thursday. The "red chips" of the Hang Seng, the stocks of mainland Chinese companies, were bled white. "This is a full-fledged, absolute crash," said Kent Rossiter, an investment adviser for Nikko Securities in Hong Kong...
...retreat. The global economy, once an abstraction to most people, had shown up front and center to deliver the bad news. Investors, fearing that the earnings of large U.S. companies exposed to Asia would suffer, began to sell. On Thursday the market dropped 186.88 points. On Friday, while the Hang Seng recovered, the Dow fell an additional 132.36 points, unable to take comfort in the good news. In New York City, out-of-favor issues ranged from big airlines with Pacific routes, like American and United, to consumer-product companies like Coca-Cola. Semiconductor stocks took a beating, along with...
...news was good enough to help break the follow-the-leader pattern of the world's stock markets today. Despite the Dow Industrial's 125-point slide on Wednesday, Hong Kong's Hang Seng index climbed a solid 260.92 points, to 10,623.78, today, or about 2.52%. In Japan, the Nikkei 225 was up 94 points, to 16,458.94. Australia and New Zealand also were up. In Indonesia, the Jakarta Composite was down slightly as traders waited for details on the restrictions imposed by the aid package, including what the New York Times called "wide-ranging austerity measures...