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

To: Tom who wrote (2039)	8/9/1998 4:29:00 PM
From: Tom	Read Replies (1) \| Respond to of 2951

SCMP: Attacks on HK$ should not be defended against. At least that is the issue one U.S. investment banker has taken up w/ Mr. Joseph Yam of the HKMA. The SCMP reported last week that an unhappy speculator contacted Mr. Yam via telephone to complain that the Monetary Authority had intervened in the currency market when it was beyond the scope of their charter to do so. When asked by the local press of the intervention, Mr. D. Tsang replied that it was an opportune moment for the Authority to purchase HK dollars which they normally do at this time of the month. Case closed.