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

To: current trend who wrote (1058)	1/12/1998 12:07:00 AM
From: Tom	Read Replies (2) \| Respond to of 2951

Woe be unto him who participates in the capitulation of the Hong Kong currency. Beijing is taking names and checking them twice. The PRC, I'm certain, would treat any premeditated complicity as "meddling in their internal affairs." And, they have warned of their impatience for that type of activity on more than one occasion.

To: current trend who wrote (1058)	1/12/1998 12:09:00 AM
From: ----------	Read Replies (4) \| Respond to of 2951

UGH! Hang Seng hammered. All over Peregrine investments going belly up. I read an article in the SOuth China Morning Post. I have not seen anything like it since the S&L debacle of the mid 1980's. Seems Peregrine gave some Indonesian taxicab company an UNsecured loan of $323million. That was about 1/3 of Perrigrine's capital. Guess what? Somebody figured out there isn't that much taxi business in Indonesia. The Hong Kong Securities Commission moved in quickly to prevent Perregrine from liquidating assets to protect whatever was left for shareholders. However, the last thing the HK/China markets needed right now was another financial debacle. Doug