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To: Bill Harmond who wrote (6142)	1/12/1998 12:37:00 AM
From: Bill Harmond	Read Replies (1) \| Respond to of 27307

The South China Morning Post has long been the leading English-language newspaper in Hong Kong scmp.com

To: Bill Harmond who wrote (6142)	1/12/1998 12:48:00 AM
From: allen menglin chen	Respond to of 27307

<<off topics>> William, HK market follows Dow closely (that's why they peak together), and you can consider Hong Kong market (HangSeng Index) an option market of NY; If there is a selloff (Dow down 200+), then HK would follow for sure--you can short the China ADRs trading in NYSE (not in this round of down trend though, HSI is too low to short now). But the risk/reward is much larger, China ADRs are moving 10% daily easily. China has 2 markets--"A" shares for China citizens; "B" share for "foreign" investors. Last week, for the same company, A shares go up while B shares go south--people worrying china devaluates RMB? I think China considers Hong Kong a market for outside investors... Look at all China ADRs trading at NYSE, after 3-4 yrs, most of them are trading 30%+ off their IPO, while China economy has improved 10% a year! Looks like NY and HK are the places for China to sell high for their companies.