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1998 3 5 kr -2.65581
1998 3 6 kr -2.54522
1998 3 9 kr -2.85915
1998 3 30 kr -2.20714
1998 4 1 kr -2.00103
1998 4 2 kr -2.48799
1998 4 3 kr -3.50227
1998 4 16 ml -2.06815
1998 4 23 kr -2.43189
1998 4 29 id -2.35019
1998 5 1 id -2.12288
1998 5 4 kr -3.19894
1998 5 5 id -2.00219
1998 5 6 id -3.26368
1998 5 11 kr -2.10037
1998 5 12 kr -2.51847
1998 5 13 id -3.24024
1998 5 14 th -2.18074
1998 5 18 id -2.37928
1998 5 20 th -2.58695
1998 5 25 kr -3.72992
1998 5 26 kr -4.83785
1998 5 29 th -2.01034
1998 6 1 tw -2.65902
1998 6 2 th -2.99644
1998 6 11 ph -2.51619
1998 6 12 kr -4.309
1998 6 15 kr -4.5518
1998 6 16 kr -3.77527
Notes : Authors' calculation.
Data source: Datastream
42
Table 1-3(continued)
Stock Price Daily Origin (cumulative weighted daily change)
devaluation
origin rate(%)
1998 7 10 ml -2.96722
1998 7 13 ml -2.37744
1998 7 22 ml -2.06513
1998 7 23 kr -2.38592
1998 7 29 ml -2.83863
1998 8 4 ph -2.13067
1998 8 5 id -3.06332
1998 8 6 id -2.42231
1998 8 10 ml -2.47277
1998 8 11 ml -3.91713
1998 8 12 ph -3.85026
1998 8 13 ml -2.72077
1998 8 17 ml -2.44769
1998 8 18 kr -2.08139
1998 8 21 ml -2.42579
1998 8 24 id -3.31244
1998 8 25 id -2.01832
1998 8 27 ml -2.0052
1998 8 28 ph -3.74894
1998 9 10 ph -3.17338
1998 9 11 ph -2.24209
1998 9 15 id -4.88403
1998 9 17 id -2.2781
1998 9 18 id -3.55915
1998 9 21 id -4.75428
1998 9 22 ph -2.22079
1998 10 2 tw -2.6448
1998 10 27 kr -2.30388
1998 11 9 ph -2.2985
1998 11 10 ph -3.25874
1998 11 11 th -3.62361
1998 11 13 th -2.69491
1998 11 25 id -2.96115
1998 12 3 th -2.82066
1998 12 4 th -2.18331
1998 12 17 kr -2.65629
1999 1 5 tw -2.12999
1999 1 26 th -2.36775
1999 2 8 ml -3.78259
1999 2 9 kr -2.45088
1999 2 10 th -2.06937
1999 2 19 kr -2.02235
1999 5 13 kr -2.72969
1999 5 17 kr -2.32377
1999 5 26 th -2.58649
Notes : Authors' calculation.
Data source: Datastream
43
Table 2 News and Events (Daily Origin) :July, 1997-January, 1998
Origin News
1997 7 2 TH Devaluing baht.
1997 7 3 TH Thai credit agency downgrades most ratings on devaluation. IMF welcomes Thai baht float.
1997 7 4 TH Thai central bank sets baht-dollar reference rate at 28.189.
1997 7 14 PH Philippine bankers group lifts volatility band on peso trading.
1997 7 21 ID Indonesian Minister of Finance says Indonesia won't change Rupiah's managed float.
1997 7 23 TH Thai finance minister says no need for financial aid from Japan and IMF.
1997 8 15 ID Indonesian central bank called an emergency meeting with country's largest banks.
1997 8 18 ID Bank Indonesia raises SBI interest rate.
1997 8 27 ID Many indonesian not making new loans because fear of high interest rate.
1997 8 28 ID Suharto worried high interest rates hurt economy.
1997 9 2 ID Inflation rate rises to 5.7%, eight-month high.
1997 9 3 TH Tahi won't seek increase in IMF package.
1997 9 4 TH Thai finance minister syas Government won't intervene in market.
1997 9 18 PH The EYCO group of companies, Appliance Maker, to stop debt payments.
1997 9 29 ID S$P degrades Malaysia, and will degrade Indonesia.
1997 10 1 ID Tradeand industry minister said Rupiah decline won't boost exports.
1997 10 3 ID Bank Indonesia to provide Swaps facilities for exporters.
1997 10 6 ID Suharto calls emergency meeting with top economic ministers.
1997 10 20 TW Taiwan authority won't support Taiwaniese dollar.
1997 11 20 KR South Korean finance minister to resign due to a failure in the passage of financial reform bills.
1997 11 25 KR Korea asks IMF for standby credit, Finance minister says.
1997 11 28 KR Korean Oct. CA deficit widened to $680.6 mln from $498.4 mln.
1997 12 1 KR Korea and IMF at odds over bailout.
1997 12 2 KR Korean stocks fell for a ninth day as the abrupt closure of 9 merchant banks.
1997 12 3 ID Indonesia may be headed for double-digit inflation this year.
1997 12 9 KR Korea may shut down 2 commercial banks as part of IMF bailout.
1997 12 16 TH Thai currency reserves may be halved.
1997 12 22 KR Korean Crisis deepens as Moody's Cuts rating.
1997 12 23 KR Korea debt payment's delay mulled by foreign banks.
1997 12 24 ID Indonesia's foreign debt payment may reach 323 trillion rupiah.
1997 12 31 KR Korea's Total external debt estimated at $156.9 bln, up $41 bln.
1998 1 2 ID Indonesian State Banks to Merge.
1998 1 5 ID Indonesia to increase generic Drug prices 15% in April.
1998 1 6 ID Indonesia's December inflation seen rising 2% from November.
1998 1 7 ID Indonesia sees inflation of 9% in fiscal 1998-1999.
1998 1 8 ID US official Rubin says Indonesia must do more to meet IMF goals.
1998 1 12 TH Thai Govt to brief Creditors of closed 56 insolvent finance firms .
1998 1 16 ID Suharto's promises to revise the budget fail to impress.
1998 1 19 ID Indonesia reserves fall 8.2% to $20.38 bln in month to Jan.15.
1998 1 20 ID Bank International INdonesia's credit rating may be cut by S&P.
1998 1 21 ID Indonesia state ratings company cut ratings on 17 companies.
1998 1 26 ID Moody's raises specter of indonesia corporate debt moratorium.
1998 2 13 ID Rubin Concerned Over Pegging Rupiah to Dollar.
1998 2 16 ID Camdessus Says It's Too Soon for Indonesian Currency Peg.
1998 3 5 ID IMF Officials Say Indonesia Aid Payment Likely to Be Postponed.
1998 3 6 ID Indonesia's Finance Minister Warns of Consequences if IMF Aid Withheld.
1998 3 9 ID IMF Says Indonesia Won't Receive Next Loan Before April.
1998 4 16 ID Indonesia's Suharto Pledges to Adhere to Reforms.
1998 4 21 PH Philippines Polls Tainted By Fears of Fraud.
1998 5 6 ID Indonesian Fuel Prices to Rise Tomorrow.
1998 5 7 ID Palm Oil Rises to Record High on Weak Ringgit, Likely Shortage.
1998 5 13 ID Students burn effigies of President Suharto in the capital and surging prices trigger riots.
1998 5 14 ID Thousands Protest Indonesia University Killings, a second day of violence in Jakarta.
1998 6 10 ID IMF top official arriving in Jakarta for review of economic targets under IMF loan disbursement p
1998 6 11 ID Indonesian Banks Cut Deposit Rates Yesterday. [ Pobierz całość w formacie PDF ]