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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (16240)	8/25/1998 7:06:00 PM
From: John Hunt	Respond to of 18056

HKMA presses market buying scmp.com << The Government sought to tighten its grip on speculators yesterday, driving the Hang Seng Index towards the 8,000-point level and squeezing hedge funds attempting to extend short positions in the futures market, brokers said. The leading cash index reversed early losses to finish 0.57 per cent, or 44.61 points, higher at 7,890.09 as the Hong Kong Monetary Authority (HKMA) intervened for the seventh consecutive trading day. The Government was estimated to have spent a further $4 billion yesterday, mostly in the last hour of trading, with buying focusing on the futures market and a new mix of blue-chip stocks, including Cathay Pacific Airways, Wharf (Holdings) and Cheung Kong Infrastructure. >> Politicians should never be given a blank checkbook! :-)) John