After the mid-1980s, investors had experienced a profitable stock market and booming economic development in East Asian countries, but unfortunately they also got lots of financial crises in the end of 1990s when currency and stock markets collapsed in the area. The goal of our work attempts to observe the interactions among stock prices, exchange rates and monetary policies in the pre-crisis and post-crisis eras. Our empirical results show that the relationship between stock prices and exchange rates are ambiguous across countries before the collapse. However, the stock prices drop sharply when currency seriously depreciated in the crisis period. In additions, money factors play an essential role for stock prices as well. For policy makers, it is substantial for developing the domestic stock market to stabilize exchange rate volatilities and complete foreign exchange transaction systems.