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Strategies & Market Trends : Asia Forum

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To: Zeev Hed who wrote (5543)	8/14/1998 11:46:00 AM
From: Paul Berliner	Read Replies (2) of 9980

Shame on the HK Govt. for intervening in the Hang Seng. A "free market" is not one that's manipulated by its country when they dislike the trend. The international financial community will find the appropriate level for the Hang Seng, as they will for the yen. I thought HK officials were a little more street smart than Japan's, but I guess I was wrong. Speculators like ourselves should be trusted to find an appropriate level for the market through our trades. If it were up to us, we would not drive the yen down to 250 like JPN fears, but we would find it an appropriate level based on economics. The same goes for the Hang Seng and any other troubled market. Now we all get squeezed once again, and we can't even blame Rubin this time.... Still, their actions have not changed the economic picture at all. I still fail to see a silver lining on the Asian cloud.

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