Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 197.59

-0.8%

Nov 7 9:30 AM EST

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To: jhild who wrote (18976)	10/24/1997 11:40:00 PM
From: Bag of Pucks	Read Replies (1) of 61433

Much of the volatility and concerns of the past couple of days have centred on this Hong Kong crisis. I think people should first look at the fact that the HK dollar is still pegged to the USD and that there is strong political resolve to maintain it. Most of the selling in HK stocks are seen as global institutional selling. Hong Kong is the last remaining Asian currency that remains pegged to the US so the bears are attacking HKD. This indicates to me that the Asian currency crisis is nearing an end. Since most of the Asian currency crisis started in August, this latest round on the HKD is 'nothing new'. As long as the HKD holds, we will only see a depreciation of HKD assets (consequence of defending the HKD) which will affect US investors minimally. The positive side is Greenspan may delay interest rate hike and that the institutions selling HK assets will move funds to US or 'flight to quality'. All this will pass in time. Technology infrastructure is lacking SE Asia and regardless of currency, they still have to buy. They have no cheaper alternative. Keep the faith,

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