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Strategies & Market Trends : HONG KONG

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To: Stitch who wrote (1639)	5/19/1998 11:31:00 AM
From: Tom	Read Replies (2) of 2951

Hong Kong Market Brief The benchmark three-month interbank offered rate was last quoted at 7.625 pct, up from yesterday's close of 7.50 pct. Dealers said Cheung Kong's decision to launch Tierra Verde residential project in Tsing Yi at a below expectation price of 4,147 hkd per square foot will further dampen sentiment towards the property sector. China Resources, which is heavily dependent for its earnings stream on the Villa Esplanada project in Tsing Yi over the next two years, is likely to come under particularly severe selling pressure, they said. Dharmal ... ... Moargan Stanley also reported to be buying shares in HSBC last night -- try

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