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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (5300)	7/29/1998 6:36:00 PM
From: Lee Lichterman III	Respond to of 9980

Thanks for the feedback. EOM

To: Zeev Hed who wrote (5300)	7/30/1998 12:28:00 AM
From: JEFF CHAPMAN	Read Replies (1) \| Respond to of 9980

news just off the wire in HK (COMTEX) B: More bankruptcies as Hong Kong's economic woes deepen B: More bankruptcies as Hong Kong's economic woes deepen HONG KONG, July 30 (AFP) - Further evidence of Hong Kong's economic woes has emerged with government figures showing a jump of almost 15 percent in the number of bankruptcies in the first half of the year, reports Thursday said. There were 691 declarations of insolvency recorded, compared to 601 in the same period last year. Company liquidations stood at 326 and personal bankruptcies 362, both well up on last year, the Hong Kong Standard reported. The major causes cited were cash-flow problems and the business slump as Asia's economic crisis deepens. "Apart from economic reasons, the increase in the number of court insolvencies was mainly due to the fact that the court had allocated more time to hear insolvency cases," the Official Receiver Robin Hearder was quoted as saying. The insolvent companies were mainly clothing manufacturers, construction and engineering firms and import-export businesses. Hong Kong is currently suffering unemployment at a 15-year high of 4.5 percent. Figures to be publsihed soon for the second half of the year are expected to confirm that Hong Kong is formally in recession. pvh/bl * end of story * BTW, I got this story from mytrack.com's software which is free and can be downloaded here: mytrack.com If you do sign up for this (you get Comtex newswires around the clock on markets around the world plus Marketguide reports for free, with news/quotes/ticker in 'pushed' streaming format), please put 'Muthavugah' in the referred by field...