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To: Herb Fuller who wrote (660)	7/5/1997 1:34:00 PM
From: Gottfried	of 1894

Herb, re HKT: Yahoo shows 1.3 billion shares out, float is 712 million. To Ice, the Chinese government has recently played games with the Hong Kong stock market. I read they have issued stock for dubious state-owned companies and Hong-Kong citizens are snapping them up, even though the companies are poorly run. I would not touch Chinese stocks with a 10 foot pole now. (Got burned on one a couple of years ago). And who is holding the almost 600 million HKT shares not in float? The occasional stock manipulation we see in the US is child's play compared to what the Chinese government can do. And no SEC to oversee them either. But keep your own counsel. GM

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