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                              Weekly Futures Market
                          Dec. 30 - Jan. 6 Review Period

     Futures Contract                              Profit/Loss %*

     02/93 Crude Oil                                -27.33
     02/92 Gold                                     -34.37
     03/93 Silver                                   +13.96
     04/93 Platinum                                 +19.14
     03/93 Copper                                   +83.27
     03/93 British Pound                            +48.77
     03/93 Canadian Dollar                          -55.56
     03/93 DMark                                    -29.63
     03/93 Swiss Franc                              -34.26
     03/93 Yen                                      -23.15
     **    Taiwan Dollar                             +1.26
     03/93 U.S. Dollar Index                        +13.25
     03/93 Nikkei Stock Index                       -15.12
     03/93 S&P 500                                  -17.29
     **    Taiwan Stock Index                       -31.44
     03/93 U.S. Treasury Bond                       +33.95
     03/93 U.S. 10 year Treasury Notes              +25.46
     03/93 Cocoa                                    +23.75
     03/93 Coffee                                  -147.32
     03/93 Cotton                                   +15.75
     02/93 Pork Bellies                             -11.92
     03/93 Sugar                                    -23.89
     03/93 Soybean                                   +1.54
     03/93 Soybean Meal                             -59.26
     03/93 Soybean Oil                              +56.47
     03/93 CRB index                                -12.00

          Source: Paul C. Y. Huang, Taipei. Mr. Huang specializes
     in economic-financial consulting, investment management, and
     training for professional licenses. Phone and fax:
     (02)729-0603. Internet:idpt199@tpts1.seed.net.tw

          **These "equivalent contracts" are included here for
     comparative purposes.

          *Profit/Loss calculations are changes in Wednesdays'
     closing prices relative to the restpective exchange's initial
     margin deposit requirement of one future contract.

                             _________________

     U.S. dollar's strength

          The dollar gained against most currencies during
     uthe week amidst a background of improving economy, sharpening
     tensions between U.S.  and Irag, and a cut of interest rates by
     the Bundesbank.

          The National Association of Purchasing Management
     said its overall manufacturing index rose to 55.9% in December,
     up from 55% in November and the strongest reading since May.  A
     reading above 50% indicates that the manufacturing economy is
     generally expanding.  The Association's new orders index rose
     sharply to 64.4%, the highest level since October 1987.  The
     index was 60.8% in November.

          Separately, the Labor Department said the number of
     new claims for state unemployment benefits fell a seasonally
     adjusted 28,000 during the week ended Dec.19 to 322,000.  More
     significantly, the four week moving average of initial claims
     fell to 341,250, its lowest level since November since 1989.

          On Wednesday, U.S. led allies -- including United
     States, Britain, France an Russia -- issued an ultimatum to
     Irag, demanding the removal within 48 hours of surface-to-air
     missiles from inside and near an air exclusion zone declared by
     the allies in August.

          The Bundesbank and the Bank of France on Tuesday
     issued a joint communique restating their determination to
     defend the current frac-mark parity, and said that they would
     cooperate to ensure the smooth functioning of the European Rate
     Mechanism.  The Bank of France the same day raised a key
     short-term interest rate to 12% from 10%.  On Thusday, the
     Bundesbank trimmed the rate on securities repurchase agreements
     to 8.60 percent from 8.75 percent.

     Bourse deals with uncertainties

          Taiwan's equity market continued to underperform
     others.  Earlier this week, Wang Tao-yuan, vice president of
     the Judicial Yuan and Lin Chin-sheng, vice president of
     Examination Yuan -- two of Taiwan's five government branches --
     offered their resignations.  There is also considerable
     speculation about whether Prime Minister Hau Pei-tsun is
     readying his resignation later this month, and who will be his
     replacement.

          On the other hand, the Finance Ministry is readying
     to lower the current serurities transaction tax from its
     present 0.006% rate, and to introduce, perhaps later, some form
     of capital gains tax to make up the lost revenue.

     Hightened interest at Simex

          The Singapore International Monetary Exchange
     announced that its trading volume set a record in 1992 with
     12.2 million contracts traded.  Open Interest reach an annual
     high of 255,553, 95.3% increase over 1991's 130,843 contracts.

          Analysts attribute the hightened interest to
     increased volatility on the Tokyo stock exchange and turmoil in
     the European currency market, which encourage many investors to
     hedge such uncertainties at the exchange.

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