Its issuers are good enough for the international capital markets. Investment banks such as Goldman Sachs, Merrill Lynch, and Deutsche Morgan Grenfell are eager lead managers of their deals. Futures contracts on its equity index are listed in Chicago and Singapore. Its stock market has risen by over 30% this year, in stark contrast to neighbours Indonesia, Malaysia, Philippines and Thailand whose stock markets have each crashed between 25% and 35%.
September 01, 1997
