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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)
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To: ms.smartest.person who wrote (4434)1/10/2001 12:52:44 AM
From: ms.smartest.person  Read Replies (1) of 4541
 
11:20 10-JAN-2001 Merrill Lynch expects half-pct rate cut in US end-January

Guonan Ma, head of North Asia Economics at Merrill Lynch, said that he expects the US economic growth to slow down to 1 pct in the first half-year, 3 pct in the second half-year, and 2.5 pct for the whole year.

Mr Ma also expects that the US Federal Reserve will consider a 0.5 pct interest rate cut in late January and that a 1-1.5 pct rate cut is projected for the entire year.

He believes the effect of the recent rate cut will not be reflected until the second half-year and therefore the US economy may start to experience an then.

On the other hand, he expects Hong Kong's economy to grow 3.5-4.5 pct. The US slowdown and credit crisis will hurt corporate earnings there and ultimatedly Hong Kong's exports. However, he anticipates corporate investments in Hong Kong to grow as many firms go for high-tech investments.

(End)


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