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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Tom who wrote (855)	11/10/1997 11:45:00 PM
From: Tom	Read Replies (1) \| Respond to of 2951

As the global financial crisis continues, the G-15 Summit issued a statement last week calling for regulations to make the global currency market more open and transparent. Meanwhile, even the financial trader and guru George Soros has added his voice calling for the curbing of speculation. And the usually pro-orthodoxy, Harvard academic Jeffrey Sachs has recently warned that the IMF's rescue packages for Thailand and Indonesia are seriously flawed and may cause much more harm than good. The entire article is in the Star Malaysia's Focus section. jaring.my:80/~star/welcome.html

To: Tom who wrote (855)	11/11/1997 2:01:00 PM
From: ----------	Read Replies (1) \| Respond to of 2951

I noticed this in my daily report: (1) The International Bank of Asia (636) disclosed that during the heavy withdrawals on Monday and today, a total of 1.6 bil. HK$ has been withdrawn. Nevertheless Hong Kong's three note-issuing banks just issued statements declaring the strength and stability of the banking system, and that the pegging of HK dollar to US dollar will stay. IBA is 55% owned by Arab Banking Corporation and 20% owned by China Everbright Holdings. Out of the 8.24 bil. transaction today, 1.14 bil. was on HSBC. This possibly indicates there are already some long term buyers quietly accumulating. I'll keep looking Doug