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To: jim kelley who wrote (27392)	1/12/1998 12:17:00 AM
From: Boplicity	Read Replies (1) \| Respond to of 176387

Jim, Did they close the Hong Kong market early? Also see below. Regent -Hang Seng may fall to 4,000 -paper LONDON, Jan 11 (Reuters) - Regent Pacific Group Ltd's chairman Jim Mellon said Hong Kong's Hang Seng index could halve from current levels before it recovers, the Sunday Times newspaper said on Sunday. ''I hate picking movements in indices but I would predict the Hang Seng could fall to 4,000 or 5,000 before it bottoms,'' the paper quoted Mellon from the Hong Kong-based global emerging markets investment house as having said. According to the Sunday Times, Mellon also said: ''I don't think anything can stop a freefall in Hong Kong. There will be one more downward spiral involving the collapse of the Hong Kong market and the Hong Kong dollar.'' The Hang Seng lost 3.89 percent (359.89 points) last Friday to close at 8,894.64. It ended 1997 at 10,722.76, and has thus lost just over 17 percent since. The Hong Kong dollar, by comparison, has been held within a few cents of 7.75 to the dollar throughout the 1990s, or time immemorial in forex market terms. It is the only Asian currency which has not lost significant ground against the U.S. dollar in the past six months. Regent Pacific, which was floated last May, concentrates on fund management, corporate finance, corporate investment and security brokerage. It also provides investment management and advisory services in emerging markets to institutional and professional investors worldwide. Greg