Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (12649)	10/23/1997 6:47:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

scmp.com Site for HK financial barometer.

To: IQBAL LATIF who wrote (12649)	10/23/1997 11:34:00 PM
From: Auj	Respond to of 50167

I think that's good for the state enterprises since a lot of them had a lot of debt. But the problem in HK is that the mortgage rates are going UP. The banks also kept the rates high in defense of the currency. This is bad enough for the market. With the property markets tanking, that just meant more trouble as a lot of people had to sell their stocks to make up for their loss in the real estate market. One reason the real estate prices went sky high in recent years is because of speculation. My family sold an apartment in HK for HK$700K in 1990 and now it's probably worth $3 million. A lot of people in HK bought the red chips and some time ago the CHinese govt restricted the banks and state enterprises from engaging in any stock mkt activity. So even the People's Bank of China dropped rates, that's not gonna help the stock market right away. That said, I still think the HK economy doesn't have any serious problem. But the volatility in HK market will continue. I would look at the rise so far today as technical. I would look for another one to two days before getting in. Jean