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Strategies & Market Trends : HONG KONG
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To: Rolla Coasta who wrote (2888)10/18/2000 11:43:11 PM
From: fut_trade  Read Replies (1) of 2951
 
...there'd be some major news on newspaper

I saw it on the evening news a few times back in '98. Aren't the newspapers controlled by Beijing? I don't think they represent free thought anymore.

...are pretty capable to do something.

Yes, of course. I only noted it as something that doesn't happen often in a country's history.

...The Blue chip stocks the gov bought are being converted to funds for people to purchase.

The HKSAR created a "Hang Seng tracking stock" to unload a fraction of their shares without creating selling pressure on the market -- talk about manipulation! They had an IPO last year, but to my understanding, they still hold the bulk of the blue chip shares they bought back in the summer of '98.

Of course they did a better job of defending their markets than Thailand did back in '97, and they did a much better job than Taiwan did the last few months, but manipulation only delays the outcome of problems in the economy.
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