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Strategies & Market Trends : HONG KONG
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To: ---------- who wrote (1090)1/15/1998 7:57:00 AM
From: allen menglin chen  Read Replies (1) of 2951
 
Thanks Doug, your info about Peregrine is very valuable.
<<Today the red chips and 'H' shares were extremely weak. The red
chip index plunged through the 1000 psychological support today.
There was a market rumor that the funds would like to heavily
stamp down the price of the red chips and H shares, so as to
squeeze Peregrine for dumping its portfolio in an extremely low
price. >>
At least that explains why many China ADRs, H-shares nosedived since last week. (also possible RMB devaluation).
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