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Strategies & Market Trends : HONG KONG
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To: Tom who wrote (2435)10/17/1998 1:35:00 AM
From: Richard Tsang  Read Replies (2) of 2951
 
Tom,thanks for the link. Very interesting. The Hang Seng has risen nearly 30% since 10/5. The "manipulation" task that Mr Yam and Mr Tsang (no relation to me) and their team put together seemed to have stunned the world of "hedging" and made a lot of money (on paper) for the reserves that belong to the HK people although their aim was to protect the HK people from losing big money to the hedge funds.It feels really good, with a big relief because I didn't know they would be so successful in execution. This is the first time in history that the big money has lost. It was the HK people who suffered in the past. Some investment houses are raising their target on the Hang Seng by another 10-15% by year end...hope this is not another trap.

Richard

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