Word: kadlec
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...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...
...course, such a powerful rally does not wipe out Asian economic woes at a stroke. "Nobody's out of the woods just yet," Kadlec adds. "There are fundamental problems in the Asian economies that haven't gone away, and that are not going anywhere." Tung Chee-hwa, Hong Kong's Beijing-appointed chief executive, still intends to protect the former colony's currency peg of around eight HK dollars to the U.S. dollar ? and he's got $85 billion in gold reserves with which...
...world finally got what it wanted," says TIME Wall Street columnist Daniel Kadlec: "Somebody to stand up and stop the dominoes." That, he says, should translate into healthy rallies in Hong Kong as the big American firms, flush with confidence, go shopping...
...loud sniffings of 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...
...Tuesday's record-setting stampede (an unprecedented 1 billion shares changed hands) may have cheated investors out of a real correction in a vastly overvalued market, and that the Dow is not done shivering yet. "This was a bad joke on the small investor," TIME Wall Street columnist Daniel Kadlec insisted. "It blindly reinforces the notion that buying on the dips is infallible--and that won't last forever. Today's rally was a reprieve, a second chance to shift your balance out of stocks somewhat because eventually, there will be a real correction...