C-Cube Message Board - Msg: 2578306

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Technology Stocks : C-Cube

CUBE 38.89

-1.8%

Jan 20 3:59 PM EST

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To: CPAMarty who wrote (24567)	10/28/1997 9:53:00 PM
From: John Rieman	Read Replies (1) of 50808

Good numbers. So this has cost the Asia Chip industry $2 Billion by the end of the year. I suspect most of that is in the devalued currencies. Unit sales seem stable. Most of those chips find their way to the US and Europe. Hong Kong will devalue it's currency, to bring their prices into line with other Asian countries. They see the competitive advantage in that. But, there is no way they will be forced to do it. They will wait until they have been successful in defending the current peg, then they will announce some type plan to move the Hong Kong Dollar to a floating currency. Two years from now, Hong Kong will need to float it's currency. They will try to make this an orderly transition. In the Chinese mind, order is very important. The Chinese sence of order might be seen as stuborness in the West. Order is not just this. It is both more determined then stuborness, but at the same time, more able to observe the reality of a situation, and react in a way that is in its best interest . If not for the property value problems, with their banks holding the mortgages, they could do it now. Hong Kong is not a Mexico, or a Thialand. They have the reserves to do what they want.

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