Don't panic, we are getting near the trough of correction

Strategy comments
*Near-term outlook remains difficult, but we are approaching the trough

Market comments
*Japan equities remained weak on JPY strength and further subprime losses concerns
*Panic selling seen in North Asia markets
*Major sell down in Southeast Asian bourses

Research opinion
*ENERGY RESOURCES OF AUSTRALIA LIMITED (BUY): Solid Q4 2007 with higher than expected realized uranium prices.
*EDUCOMP SOLUTIONS LTD. (BUY): Profiting from a growing and a technology enabled education market
*JPMORGAN CHASE & CO (BUY): All things considered, respectable Q4 results

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