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Strategies & Market Trends : China Telecom Ltd (CHL) -- Ignore unavailable to you. Want to Upgrade?

To: Julius Wong who wrote (101)	9/3/1998 10:33:00 AM
From: Paul Shread	Read Replies (1) \| Respond to of 149

Mr. Soros has lost a couple billion himself, I believe. My problem is that they've taken one of the world's freeest markets, a model for emerging economies, and exercised control over it. What does this mean for the future of economic reform in China, and what does it mean for long-term growth of CHL? I don't know, but the moves have given me pause about owning CHL, and that's quite an accomplishment. I'm not about to sell, but I am now wary where I wasn't before. I doubt I'm the only investor feeling this way. China had very ambitious economic plans, and I think they were good ones; I hope this does not mean that they may pull in their horns further. They could easily survive this mess by just stimulating their domestic economy and continuing to pursue bank reform.

To: Julius Wong who wrote (101)	9/4/1998 10:52:00 AM
From: Cymeed	Read Replies (1) \| Respond to of 149

Despite the strong performance of CHL during the last few days, CHL is still trading below its 50 day moving average and has not broken the down trend started March 98 ever since it made its new high in the $40+. Besides, the recent gains are made when short selling is prohibited. So I would feel a little nervous to add any position here. I bought a very small amount of shares on its IPO day @$28 (IPO price $30.5) last October and then rode through the crash next Monday :o). However, I did sell them at a small profit later. So I have been looking to get back in now. But I am still waiting. If you already have CHL, it may be a good idea to ride it out. This company is reasonably priced now and its future is big. Personally, I don't believe in any Yuan devaluation in the short term and I aslo agree with many of your comments re HKMA's intervention. I think the authorities did a good job in defending the interest of HK and has effectively lowered the interest rate by sweeping speculative attacks away from HK, which should be beneficial to HK economy.