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

To: Stitch who wrote (1470)	3/24/1998 12:12:00 PM
From: William Shen	Read Replies (2) \| Respond to of 2951

High tech, infrastructure and property stocks are going to be investor favorites in the near future. In order to maintain RMB at its current exchange rate, China needs to have at least a 8% or plus annual growth in GDP. Given the Asian turmoil, it can no longer rely on export to stimulate growth. Instead, it has devised an ambitious plan to invest more than 750 bn rmb in infrastructure in order to maintain the 8% annual growth. As a result, all infrastructure stocks (H shares) in Hong Kong have all experienced a strong run of late. Premier Zhu has also emphasized on the development of the high technology sector and reform of the property market. It is not surprising that both Stone and Legend have experienced over 30% share price appreciation during the last 2 weeks. Going forward, these 3 sectors will remain as the focus for fund managers and retail investors in the near future. Petroluem is highly unlikely to generate the same level of interest in near term.