ERODED: The worst may still be ahead if more high-profile finance firms are also affected by the ongoing subprime problems, one Taiwanese analyst warned
Asian stocks fell for a third week as a widening credit crunch, sparked by losses on US subprime mortgages, fueled concern that global economic growth will cool.

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LOOKING AHEAD: The publisher of the `Gloom, Boom & Doom Report' said he expected the Dow Jones Industrial Average to fall below 12,000 points
US stocks are at the beginning of a bear market in which benchmark indexes may fall more than 30 percent, investor Marc Faber said.

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Stock markets in Europe could fall further next week in the absence of a quick solution to US housing crisis, analysts said on Friday.

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Asian currencies fell this week on signs the US subprime mortgage crisis is spreading, prompting global investors to cut riskier investments.

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GUIDANCE: The Federal Reserve has a range of tools to manage financial institutions' problems, including its most powerful weapon
Facing a major test, the Federal Reserve pumped billions of dollars into the US financial system after a global credit crunch sent Wall Street into a dive and shriveled the nest eggs of investors large and small.

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Unlike oil, we probably won't ever run out of milk. But the two liquids have one thing in common: They're trading at record highs.

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Oil futures rebounded from earlier lows on Friday as traders bought on news that a tropical storm is forming in the Atlantic Ocean and a report of a refinery problem.

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The US dollar fell against the euro and the British pound on Friday as fears about the US mortgage market and a related credit crunch unsettled financial markets.

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The annual production value of Taiwan's radio frequency identification (RFID) industry is expected to expand by a factor of 12.5 over the next three years to reach NT$10 billion (US$303.95 million) by 2009, the Council for Economic Planning and Development (CEPD) said in a report released yesterday.

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Japanese semiconductor maker Elpida Memory Inc plans mass production of 65-nanometer DRAMs by March next year, becoming the first in the business to do so, a report said yesterday.

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■ TRADE
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