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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: wooden ships who wrote (6922)	8/17/1998 2:26:00 AM
From: HammerHead	Read Replies (1) \| Respond to of 42834

Truman, Yes, HangSeng closes this Monday. The big concern is that China is being ruined by the worst flood in 50 years. There are 250 million people (victims) affected by the flood, that's about entire US population. The latest news is only getting worse, the flood is damaging China's biggest industrial oil fields. The oil fields produce almost 50% of China's oil productions. So, the question is whether China can still maintain its targeted 8% GDP growth. Does China need to devalue its currency to achieve the targeted growth? By not devaluing the currency, China has tried to pump up its domestic economy to compensate the slower growth on exports affected by the currency. The commies want a stable growth to maintain their power. That's why the international speculators are attacking (shorting) HK dollar and expect the peg will be broken by Yuan's devaluation. Are we all tired of this dragging-on currency speculation? And our president is busy on the sex scandal testimony. biz.yahoo.com /Robert