An icy wind blew through the red-hot stock markets of Hong Kong, Singapore, Malaysia, and Thailand--the stars of 1993. The bene-ficiary, for now, seems to be the long-suffering Japanese market, up a snappy 5.7% for the week. Wall Street prospered as well. Bonds rallied because of good news on inflation, driving long-term rates back below 6.2%. Brightening hopes for corporate profits sent the blue chips climbing. On Jan. 10, the Dow industrials and the S&P 500 marked new highs.
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