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Strategies & Market Trends : HONG KONG

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To: Tom who wrote (2320)	9/16/1998 9:45:00 AM
From: Ron Bower	Read Replies (1) of 2951

Tom, "Anyone see anything on the enormous amounts (tens of billions) of Mainland cash soon to enter the SAR?" Have seen nothing on this in my readings. Where did you get it? Did see they were clamping down on illegal yuan conversion to prevent $US outflow. Last week it was reported people were converting $US to yuan on fears of a $US devaluation and they were selling yuan for $US to stabilize. This market is based more on unfounded rumors than actual events. You been reading the articles about property sales in HK and China? Developers having more buyers than units when they lower the price. Cannot believe that 600SF flats selling for US$250,000 and buyers standing in line all night to buy. China real estate sales to individuals up 77% from last year. TIA, Ron

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