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Strategies & Market Trends : HONG KONG
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To: Tom who wrote (1598)5/14/1998 3:49:00 AM
From: Bob Swift  Read Replies (2) of 2951
 
Talking about volatility. The HSI gone from -170 to +112 in a matter of 50 minutes. When will it bottom out ?
Came back from Hong Kong a couple of weeks earlier. When we were there, I noticed on the newspaper that several teleboardcasting companies had chosen to leave Hong Knog for Singapore, citing the high cost of doing business in HK. The next day, a tobacco company that has been in business in HK for >100 years announced they will move to Singapore as well. Talked to a broker friend who advised holding only HKSBC since it has only 40% exposure in HK... talking about confidence in the future of HK.
Drove through the new bridges to take a look at the new airport and was told that archiologists are hard at work digging the new finds in MaWan island where a new park was to be built. Four skeletons from the stone age were discovered buried with their skulls facing the sea a while back. Well, the developer will not wait and gave a deadline for the digging to be completed so the development of the park can proceed.
On the way back to the US, while going through custom, heard a loud argument between a Chinese passager and the custom officers. You can tell he is not from Hong Kong as he spoke no Cantonese. The custom officers were quite polite but this guy went on and on lecturing them " .... you guys should reflect on your mistakes and your behavior, this is no longer the era of the British queen. " Translating : WE ARE YOUR MASTER NOW.
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