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

To: Tom who wrote (1140)	1/21/1998 11:08:00 PM
From: allen menglin chen	Read Replies (1) \| Respond to of 2951

Tom, If you read the following 1997 CEA interim report, it looks quite tempting to invest in CEA and ZNH. Here is the webpage for CEA's report: irasia.com With P/E under 5 and double digit growth, plus the price has dropped from year high 39 to 9, and 36 to 8 respectively. I would like to buy some for long-term... The problem is that 1 of friends, who made great money on HK stocks the past few years told me that his buy list is CHL and some good HK banks (e.g. HK005). He told me to avoid CEA and ZNH. He just visited HK and south China last couple weeks. He has confidence that HK will recover soon... I recently hold China ADRs for short-term, when HSI is low (close to 8,000) I buy; and sell when HSI is close to 9,500. These ADRs are too volatile to hold for long--I might hold long once the market stablize by mid-year. Also remember that Chinese New Year is coming up soon, people tends to take profit, and not patient. Right now HSI drops 5% again!