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

To: ---------- who wrote (894)	11/18/1997 10:34:00 PM
From: Tom	Read Replies (1) \| Respond to of 2951

Regional currencies getting slammed tonight. S&P and NASDAQ down on the overnight/Globex.

To: ---------- who wrote (894)	11/19/1997 12:15:00 AM
From: Tom	Read Replies (1) \| Respond to of 2951

After crunching some numbers (e.g. GNP, currencies, real/adjusted rates, trade, current account) on several foreign markets, I see no reason for an equities investor to be too anxious right now. I see some nice companies in every region that have been holding their own throughout some fairly stormy trading sessions. A correction in the equities markets, regardless of the impetus, that penetrates secondary support levels is what we need. I'm writing from an individual's perspective. Breaking second-level support will shake loose some of these companies from the grips of the fund managers, and negate those premiums that eat us up so badly. Anyways, that's my two cents. And, what I'm waiting for. I see evidence of funds accumulating in HK right now. Haven't looked to see whether they are domestic (maybe provident types) or foreign. And, I just love to get in beneath them. It's not easy. The opportunity to scoop them is rare. By the by, I still believe, as I wrote in the Singapore topic a while back, that one should be vigilante where an East Asian company has both foreign and local listings. It's been suggested, recently, that consolidation is probable when the sovereign government decides a different tack is necessary. More specifically, a nation adopting WTO guidelines and/or emulating IMF recommendations might decide to consolidate the listings. I'm aware of the WTO's stance, which is as I'm sure we've all heard or read -- "This would provide for a more "open," more liquid, more viable domestic market"...or words to that effect. Poppycock! The developed economies are topping-out on companies' earnings growth in key sectors and need to feed their bottom line...blah...blah...blah. Sorry for going on. Time for another peek at the Nikkei.