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

To: synchro who wrote (1041)	1/8/1998 6:27:00 AM
From: Richard Tsang	Read Replies (1) \| Respond to of 2951

It is thought that there is support at 8800.....but with the Singapore market going down 7.5% last night, despite several analysts liking that market, that will have impact on HK, I think. I sure hope it will stop at 9000 and come back up....but I can only hope at this point in time. RT

To: synchro who wrote (1041)	1/9/1998 12:06:00 AM
From: ----------	Read Replies (4) \| Respond to of 2951

Synchro & all: Throw away the technical analysis books. Toss out the fundamentals. (At least for now). From any sort of PURE stock market analysis, this is too bizarre to be analyzed. While those who do not already consider me crazy, (both of you <g>), this may do it. IMO, this is far more political. Whether it is tied to the Chinese trying so hard for military technology, I have NO idea. Breaking the HK $ link AND/OR forcing China to devalue it's currency would be a major embarassment to Beijing. (Sort of like a punishment.) I know one currency trader. I understand there is a HUGE short in the Chinese currency. (e.g., somebody would make a LOT of money if there was a devaluation.) I've looked at HK market. Sure, some banks have loans in Korea, Malaysia, etc. Okay, property was high. So, explain to me why stocks that are not banks, are not property/developers have been whacked by 60%++? IMO, since there is no economic rationale for the current market, and, I FIRMLY believe all governments and politicians are totally irrational, there is no explanation, nor support number. I buy more of the stocks I like, knowing one of two things will eventually occur. ... (1)they will return to reasonable valuation & I'll make money; (2). Earth will be as uninhabitable as Mars & it won't matter anyway. Doug