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Asian crisis hits Canadian banks
The Globe and Mail Friday, January 16, 1998
BIG SIX BANK STOCKS TUMBLE
CIBC, Scotiabank hardest hit by Asian troubles; Soros rumoured to be
shorting shares
By Susanne Craig, Investment Reporter
After two years of record gains, bank stocks spiralled downward yesterday,
plagued largely by growing financial troubles in Asia.
....
"The downward revision in bank earnings estimates is a function of a more
conservative forecast for market-related investment banking earnings and
additional Asian loss provisions partially offset by higher domestic
spreads," he wrote in a report.
....
"The environment has changed a lot in 1998 and Asia is the catalyst."
....
Scotiabank, which bills itself as the most international of Canada's banks,
has the largest exposure to the Asia-Pacific region, including Japan.
- Thread context:
- BLS Daily Report boundary="---- =_NextPart_000_01BD22A5.474F4ED0",
Richardson_D Fri 16 Jan 1998, 22:40 GMT
- The Parallax view,
Tom Walker Fri 16 Jan 1998, 20:43 GMT
- Business advisory council criticizes MAI negotiations,
Sid Shniad Fri 16 Jan 1998, 20:26 GMT
- Joseph Kennedy on the School of the Americas,
Sid Shniad Fri 16 Jan 1998, 20:09 GMT
- Asian crisis hits Canadian banks,
Sid Shniad Fri 16 Jan 1998, 20:07 GMT
- Request for info on intra-company trade,
Sid Shniad Fri 16 Jan 1998, 20:06 GMT
- Re: Anarchist Cookbook for 21st Century,
Thomas Kruse Fri 16 Jan 1998, 19:33 GMT
- Disarming the Markets,
Sid Shniad Fri 16 Jan 1998, 19:19 GMT
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