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To: Jim McMannis who wrote (37911)	10/27/1997 11:22:00 PM
From: Gary Ng	Read Replies (3) \| Respond to of 186894

Jim, Re: It's the HK stock market that's tanking in lieu of the HK dollar. Sigh, our SAR government just don't get it. break the peg and it may be a 10-20% devaluation at most (if they believed that the fundamentals are good as they claimed), now things are getting out of hand. Gary

To: Jim McMannis who wrote (37911)	10/27/1997 11:40:00 PM
From: Charles Skeen	Read Replies (2) \| Respond to of 186894

Re: <<<It's the HK stock market that's tanking in lieu of the HK dollar.>>> Yes, and the HK stock market will remain in the tank as long as the HK $ remains pegged to the US $. Trouble is, as Jimmy Rogers pointed out on CNBC, inflation in Hong (look at the price of their real estate) has outstripped that of the US for a number of years, which makes a fixed rate vis-a-vis the US$ untenable over time. They are trying to defend the value of the HK$ with higher interest rates, but that is killing the stock market! I've seen many Jimmy Rogers predictions go wrong (at least short-term), but this time I think that he is right. Hong Kong needs to set the currency afloat and perhaps the stock market there will come back -- in about 2 years or more! Charlie.