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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (12638)	10/23/1997 5:08:00 PM
From: Auj	Read Replies (2) of 50167

Thanks Ike and Taqi for the response. As far as I know, China is trying not to interfere in HK affairs due to its promise of "one country two systems". The HK government already emphasized that its prime target is to defend the currency. As a result, interest rates rocketed. The Hang Seng index is dominated by property and bank stocks. Higher interest rates will hurt these 2 sectors. Already, the real estate prices have dropped a bit. A lot of the capital in the stock market has to be withdrawn when people lost money in property speculation. My view is that the effect on HK on other markets should diminish but I still don't see a rebound in HK soon. Jean

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