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

To: Ron Bower who wrote (2088)	8/13/1998 9:38:00 AM
From: WONG	Respond to of 2951

I see the numbers 666 on the HSI......

To: Ron Bower who wrote (2088)	8/13/1998 12:32:00 PM
From: Tom	Read Replies (2) \| Respond to of 2951

Market sentiment, Ron. The baby goes out with the bath water. I can recall during the Peso Crisis how certain stocks in the S.A. markets held-up very well. But, eventually, they all came tumbling down. None were spared. It's should now also be evident to any reasonable individual that a yuan devaluation should not be conducted under the current socio-economic circumstances. Even as you, yourself, have indicated. The only reason one will be conducted is for political reasons. And that will depend on how much influence the affected exporters have at Zhongnanhai. So, will a yuan devaluation be conducted? There is every possibility -- not probability, but possibility -- that the communist mandarins in Beijing will cave-in to the pressure. And that is why markets are in such a tizzy. Also someone, sooner or later, will ask the central government just how long they intend to continue paying-off certain well-connected parties in the export business. Pointed words, like hypocrite, are heard more loudly and more often. And then,...well, it's no way to run a country.