East Asian economies are likely to remain healthy next year despite the impact of the widening subprime lending crisis in the U.S. and the renewed increase in crude oil prices, the World Bank said Thursday. The region's rapid growth is also reducing poverty, although income inequality is expanding.The bank warned, however, that the problems posed by the U.S. subprime mortgage crisis, the related credit crisis as well as rising oil prices could hinder East Asia's growth.
The r
eport said among the economies, China is the largest overseas holder of U.S. mortgage-backed securities -- around $260 billion -- mostly through its international reserve holdings and through holdings of commercial banks. But most of these holdings are backed by U.S. government agencies such as Fannie Mae, the largest U.S. buyer and backer of home mortgages, the report said.
eport said among the economies, China is the largest overseas holder of U.S. mortgage-backed securities -- around $260 billion -- mostly through its international reserve holdings and through holdings of commercial banks. But most of these holdings are backed by U.S. government agencies such as Fannie Mae, the largest U.S. buyer and backer of home mortgages, the report said.Rather, it said that impact of the crisis on East Asia has instead been heightened uncertainty and a reassessment of risk, reflected in stock market declines.
"Frequent and large reassessments of risk and high volatility in asset prices are likely to remain a part of the scene for some time," the bank said.
"Frequent and large reassessments of risk and high volatility in asset prices are likely to remain a part of the scene for some time," the bank said.
It predicted that a theoretical decline in U.S. growth to zero in 2008 -- a decline of 2 percentage points -- 
would be met with a 1 percentage point drop in median East Asian economic growth, to 5 percent from about 6 percent
would be met with a 1 percentage point drop in median East Asian economic growth, to 5 percent from about 6 percent"Significant, but no disaster," the report said, referring to the impact of a U.S. recession on the region.
The World Bank defines East Asia as comprising China, Indonesia, Japan, Malaysia, the Philipppines, Thailand, Vietnam, Hong Kong, South Korea, Singapore, Taiwan and some smaller economies such as Cambodia, Fiji, Lao and Timor-Leste.
Tracking the Dow on Wednesday 14/11/07The overnight wild bulls were beaten by the bears in the last half hour of trading,a usual trading patternThere were many intermittent long black candlestick during the intraday session depicting the tired bulls.At the near closing bell,I've noticed a "T",that's the "Dragonfly Doji"Lookout!!! the bulls and the saints will be charging in again.Gear up for the party.http://www.prosticks.com/education/candlestick_patterns/index.php?sid=355cd105f79507780fad8848469baca1
Tuesday's Relief Recovery was part of a historical pattern of bouncing on the fifth day after four down days in a row.Yesterday's pullback was a result of profit taking.The half body of the long white candlestick is @13,071.84 whereas wednesday closes at 13,231.01 so the bulls are still holding on.
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