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

To: Tom who wrote (2174)	8/27/1998 2:00:00 PM
From: Tom	Read Replies (2) \| Respond to of 2951

Hong Kong market rumor that the HK Government has suggested individual banks and local funds NOT loan stocks and HK dollars to the speculators. If so, the hedge funds can only get stocks by short-selling and issuing 150% deposit to the HKSE, or borrowing the stocks offshore. The big blue-chippers should be easy enough to come-by offshore. HSBC and HKT have been their preferred assault weapons. Overnight rates were pushed-up to 17%. Difference between Aug. and Sept. futures widened to more than 300 points. HK Government may have used Sept. futures to protect its stock portfolio.