Word: hangings
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...down. It's the Hang Seng. The "Footsie." The Dow. It's the tail wagging the dog, the Correction of '97. A record slide! A record rise! A blip. It's not a matter of being confused ? it's about recognizing confusion when you see it. And right now, the markets (and their attendant swarms of pundits) are lousy with it. But like a smooth rock in a wind-tossed bay; like the "Money Honey" on the crowded exchange floor; the right movie can provide sanctuary ? and understanding. Go back home. Go back to Trading Places. All the answers...
Long spends about two hours each day at the Tasty, skipping class to hang out and smoke with other patrons...
HONG KONG: For what may well be a fleeting moment, all's well in the global marketplace. Hong Kong's Hang Seng index roared Wednesday, wiping out the losses of Tuesday's devastating crash and surging 18.82 percent ? its biggest gain ever. This came on the back of a similarly record-breaking day on Wall Street. "The world finally got what it wanted," TIME Wall Street columnist Daniel Kadlec said. "Somebody to stand up and stop the dominoes...
...value their currency more than they value their stocks. "Let the peg go," says TIME Asia correspondent John Colmley, "and the basis of the Hong Kong economy collapses." Even $85 billion may not be enough to defend it, he warns, if currency vultures like George Soros move in. So hang on to your seat belts: Messrs. Hang Seng and Dow Jones could be in for another one of their bumpy rides...
...rich U.S. multinationals should keep the street-sweepers at bay--at least for a little while longer. "Nobody's out of the woods just yet," Kadlec warns. "There are fundamental problems in the Asian economies that haven't gone away, and that are not going anywhere. But the Hang Seng, for one, has dropped so low in the last week that there are plenty of good opportunities...