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

To: WONG who wrote (2291)	9/2/1998 11:15:00 PM
From: Ron Bower	Respond to of 2951

WONG, Heard some screaming over here and thought something serious had happened. Just another 'bear' letting off steam. Been hearing that a lot lately. In addition to your post, half of the Brokerages to be fined for naked short selling. But - Survey shows consumer confidence has improved. Same survey shows majority (2:1) approve of HKMA's actions. Hotel occupancy highest level all year in spite of July traditionally being one of the poorest months. Potential extension of the property ban coming under heavy criticism. The HKMA has not been in the market this week. Strength has been due to short covering. Futures contracts have declined by about 10%. A broker projects the $HK will be devalued within 3 months. The yen is at 136 against the dollar versus he 147 of a short time ago. (By golly he's right, the $HK is devaluing.) I don't know if it's getting interesting or not. Seems to me that it's starting to calm down a little -g- Got more but I gotta see what's causing the screaming over on the Asia Forum. Wonder what Mahathir has down now? Best, Ron