My view of Japan is based largely on the overcapacity for production high-tech and consumer products that has developed in Asia, but it leads to the same conclusions.
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Hong Kong stocks remain depressed in afternoon
HONG KONG, Nov 9 (Reuters) - Hong Kong stocks remained lower on Monday afternoon, weighed down by profit-taking after market gains of the past month, brokers said.
The Hang Seng Index was off 194.37 points, or 1.92 percent, at 9,945.38 after hitting a low of 9,906.44. Turnover was HK$3.56 billion.
''If the market cannot rebound above the 10,000 level, probably we will see the market entering a short-term correction,'' said Ricky Tam, senior research analyst at Delta Asia Securities.
Tam expected the blue chip index to meet support between 9,500 to 9,800.
Brokers said concerns that the government might sell off some of its HK$118 billion Hong Kong stock portfolio hampered trade.
The government's holding company, Exchange Fund Investment Ltd, has said it is in no hurry to sell its shares and would unload its holdings over a long period in a manner that keeps Hong Kong markets stable.
If the HK gov't pulls this one off it will be something!
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