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

To: Tom who wrote (907)	11/19/1997 9:03:00 PM
From: ----------	Respond to of 2951

Yeah: I do not now, nor have I ever understood the valuations of the Japanese stock market. Never owned a share. I have some acquiantences in Japan. But I avoid their market. Between following the few HK stocks I do, and the few domestic stocks I follow, my rather small cranium is full. Doug

To: Tom who wrote (907)	11/19/1997 11:21:00 PM
From: ----------	Respond to of 2951

HONG KONG (Dow Jones)--Here's the advice of stock professionals surveyed in Hong Kong Thursday; reasons are in parentheses: - -Buy- -Sell- DBS Securities CITIC Pacific Ltd. none (Hong Kong) Ltd. (strong earnings based on infrastructure, property income and 62% increase in China exposure over next 3 years; conglomerates expected to outperform index; proportion of power generation interest to increase from 5% in 1996 to 15% in 1998; despite 20% drop in property prices, co.'s property development earnings will kick in in 1998) - -Buy- -Sell- Bear Sterns SmarTone Telecommunications none Asia Ltd. Holdings Ltd. (attractive valuation, trading at 20% discount to regional wireless companies' valuation on cash flow basis; likely to acquire smaller mobile phone operators in Hong Kong; partly owned by China Ministry of Post and Telecommunications; net cash position strong in underlying growth and subscriber base) - -Buy- -Sell- DBS Securities Shui On Construction Bank of East Asia Hong Kong & Materials Ltd. (low forecast growth; Ltd. (leading builder of bad banking government flats, environment due to an area not exposed high interest rates to commercial property and falling ppty price decline; prices;relatively HK$6 million net cash; high valuation buying cement plants against peers, less in China; well less opportunity to managed by well- grow its balance connected Vincent sheet.) Lo Hung-Sui)