HONG KONG Message Board

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Strategies & Market Trends : HONG KONG

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To: Tom who wrote (2284)	9/2/1998 12:02:00 PM
From: tom	Read Replies (1) of 2951

That's a good question which I don't have the answer to. As Marc Faber pointed out its not as though Donald Tsang woke up one day and decided to buy US$10 bn worth of stocks without clearing it with Beijing first! Clearly both Beijing and the HK tycoons knew about the intervention before it happened (why was there so many buy backs in the days before the intervention?) but I don't know how much influence either group had over the HKMA. Intervention as a strategy sounds like a Chinese solution but I honestly don't know if it was their idea in the first place. I would be interested to see if some of the HK tycoons unload some of their shares on to the HKMA during the intervention. Then I think I really would get suspicious...

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