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

To: Stitch who wrote (1639)	5/19/1998 11:31:00 AM
From: Tom	Read Replies (2) \| Respond to of 2951

Hong Kong Market Brief The benchmark three-month interbank offered rate was last quoted at 7.625 pct, up from yesterday's close of 7.50 pct. Dealers said Cheung Kong's decision to launch Tierra Verde residential project in Tsing Yi at a below expectation price of 4,147 hkd per square foot will further dampen sentiment towards the property sector. China Resources, which is heavily dependent for its earnings stream on the Villa Esplanada project in Tsing Yi over the next two years, is likely to come under particularly severe selling pressure, they said. Dharmal ... ... Moargan Stanley also reported to be buying shares in HSBC last night -- try

To: Stitch who wrote (1639)	5/20/1998 11:18:00 AM
From: MikeM54321	Read Replies (1) \| Respond to of 2951

Well here's another one. Sure is a lot being written about devaluation. It's the last paragraph where it's mentioned. I still wonder what the reaction will be IF it happened? MikeM(From Florida) >>Tuesday, May 19, 1998 Indonesia Unraveling is an Economic Threat Mercury News Tokyo Bureau 'This is not just a crisis for Indonesia; this is an Asian crisis,'' said Henri Claude deBettignies, an expert on Asian management who teaches at the Stanford University Graduate School of Business. ''The growth of the entire region is going to decrease dramatically.'' The collapse of Indonesia's economy is likely to slow growth in smaller neighbors such as Thailand, Malaysia and the Philippines. About 18 percent of Indonesia's imports came from other Southeast Asian nations, and another 10 percent came from China, Hong Kong and Taiwan. The chaos in Indonesia also means foreign investors will tend to shy away from the region or at least ''reconsider'' the political risk of their investments, according to Merrill Lynch's Belchere. A continuing economic slowdown in Southeast Asia, in turn, would raise pressure on China. Beijing promised months ago not to revalue its currency to improve its trade competitiveness, but it needs to maintain a growth rate of about 7 percent or risk mass unemployment and political turmoil.<<