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

To: Auj who wrote (892)	11/18/1997 11:20:00 AM
From: ----------	Read Replies (2) \| Respond to of 2951

Jean: True, HSBC is not as dominant in Hk as it once was. But, they are all over the world. You are correct on CITIC. Larry bought several million shares awhile back. (As I understand it, CITIC needs to stay above @HK$31. for his loans not to require more collateral. Somehow, it manages to do that most of the time. I have also heard very unofficial rumors that some in Beijing consider him a little too "westernized". For the reasons you mentioned, I bough some China Everbright-IHD (165). I read an article on the company in Asiaweek. It mentioned the possibility that China Everbright could replace CITIC as the primary Beijing company in HK. The HK market was down on very light turnover. It seems the buyers are on the sidelines waiting for the results of the Beijing meeting with many of the Red Chip company executives and the land auction. IMO, if the land auction goes poorly, or no good news comes out of the Beijing meeting, we could go back to 9500. Just my opinion.... and I am wrong a lot. Doug