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Strategies & Market Trends : HONG KONG
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To: MikeM54321 who wrote (1630)5/18/1998 8:47:00 AM
From: Ron Bower  Read Replies (2) of 2951
 
Mike,

The article you posted is contradictory to everything we read out of HK and China. It has the appearance of short sellers trying to start a panic selloff of the $HK. It might be successful.

What surprised me about the article was the references to US fund investment in HK and China. It seems to me that they had already pulled out in panic. I'd think those remaining would be committed.

China is relying on a large export surplus this coming year.
Wouldn't a devaluation of the Rmb prevent this?
Do you feel that emotions are controlling the market activity rather than fundamentals?
That most of what's been happening is a result of monies being pulled out of the region?

It just seems to me that the 'panic' is the cause rather than the result. Reaction to articles like the one you posted.

Thanks,
Ron

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