41. Philippine stocks fell sharply Monday, pulled down by a mixture of negative news, particularly the falling Japanese yen, traders said. 42. A falling yen has also contributed to the increase by making imports more expensive. 43. A falling yen increases the value of overseas earnings of Japanese exporters like Mazda when they are converted into the Japanese currency. 44. A falling yen increases the value of overseas earnings of exporters like Mazda when they are converted into the Japanese currency. 45. A falling yen has also made imports more expensive. 46. A falling yen means more competition for South Korean exports as Japanese goods become cheaper overseas. 47. A nervous local market also reacted sharply to comments by Chief Executive Tung Chee-hwa that the Hong Kong dollar was under pressure because of the falling yen. 48. Analysts also fear that a falling yen will drag down other currencies in the region, reigniting the Asian financial crisis. 49. Analysts fear that a falling yen will rekindle the Asian currency crisis by further weakening the already battered currencies of many countries in the region. 50. Beijing worries that a falling yen could prompt other Asian governments to cut their exchange rates, hurting the competitiveness of Chinese exports. |