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

To: Tom who wrote (1307)	2/3/1998 2:48:00 AM
From: Tom	Read Replies (1) \| Respond to of 2951

There's one I missed. Sg's CityDev up over 40% yesterday. I knew.... Many analysts have been on the downside of prospects for the Singapore economy, saying the highly contolled administration of the economy portends no good. (humph) Not as long as Mr. Lee's alive. Recall SM Lee stating after a visit to Hong Kong several months ago that there was a "buzz" in Hong Kong that Singapore just didn't have. I didn't think that was just a passive comment. Some wheels were undoubtedly set in motion. Mr. Lee knows there is a problem in Singapore and the Singaporeans will not just be sitting on their hands while the problem remains. I can't help it folks. Mr. Lee doesn't mince words. He lays it all out in plain English. He's also a fair master of metaphor. I enjoy seeing what he has to say. And, what he has to say is often very relevant. Remember the comments from Morgan Stanley's Barton Bigg's about the extreme "arrogance" of SEAsian leaders? So what! (That felT good. Permit me...just one more time.) SO WHAT! I should have known that one of the biggest and best companies in Singapore would not stay that low for long, property-related or not. Oh well,....

To: Tom who wrote (1307)	2/3/1998 3:45:00 AM
From: Stitch	Read Replies (1) \| Respond to of 2951

Tom, <<Mahatir...the man just won't quit>> FYI, most people here associate Dr. Mahatir's words with a prolongation and extension of the problems here, especially the decline of the K.L.S.E. Now, I must note, that over the last few weeks several local friends have commented on his silence. It seemed he simply wasn't making any statements anymore about the economy except to encourage the people to buy more local goods. There was a notable abscence, rather suddenly, of the kinds of statements he had been making. So it seems, in fact, that the man did quit. I am sure the locals will all thank him for his silence. Since it began there have been kind words about Malaysia's ability to rebouind from the American Ambassador, the head of the IMF, and, more recently, the head of the World Bank published in the local paper. And, of course, as you noted, there has been a rebound in the market. However, you may want to withold judgement until the holidays here are truly over. Wednesday should see a return to normal trading and it will be interesting to watch through the week. I am bullish on Malaysia's ability to overcome the setbacks. And, aside from his occasional outbursts of anti-western rhetoric, I think Mahatir is a very accomplished leader. Best Regards, Stitch