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Strategies & Market Trends : HONG KONG
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To: Tom who wrote (1165)1/22/1998 2:41:00 PM
From: RealMuLan  Read Replies (1) of 2951
 
Tom: I forgot to mention one thing about red chip stocks. I remembered it was before Hong Kong's return to China (in June 1997), the red chip stocks were fly-high. The Chinese gov. gave a press release, warning some of those stocks were overvalued, and in case of collapse, the Chinese government would not intervene. So be careful. The reason for Chinese gov. said this was because a lot of people speculated the Chinese gov. would support the stock price in case it dropped too much. I guess not many people paid attention to it, and got burned really bad afte Aug.
Good luck.
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