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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

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Nov 28 4:00 PM EST

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To: bobby beara who wrote (29521)	10/14/1999 12:31:00 AM
From: Challo Jeregy	of 99985

HK stocks up in morning, placements swell volume biz.yahoo.com Turnover was a robust HK$5.93 billion in the first 30 minutes of trade, but brokers said HK$3.87 billion of the total was from a placement by Pacific Century CyberWorks . The company said on Tuesday it placed 635 million shares at HK$6.10 each to finance an acquisition of a 23 percent stake in U.S. cable television provider SoftNet Systems Inc (NasdaqNM:SOFN - news). Traders said the market was otherwise quiet with investors growing more cautious about a U.S. interest rate hike. ''We're going to slow down from here and just drift. The U.S. treasuries look like they're beginning to price in not just one more rate hike but two,'' Blanchard said, adding the next rate hike would likely be 50 basis points.

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