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

To: Dayuhan who wrote (2297)	9/7/1998 1:58:00 PM
From: Ron Bower	Read Replies (1) \| Respond to of 2951

Steven, "The Malaysian rally is quite incomprehensible to me - I really wonder who is buying?" The government? Only entity I can think of that would be investing in Malaysia at this time. Hong Kong is covering of short positions. Because the HKMA has taken so many sellers out of the market and made new regulations that prevent the hedge funds from operating freely, they're covering their positions and licking their wounds. Should see a strong HSI until the HKMA starts putting shares back in it. But - things are improving in HK. Monies being pulled out of US, Russia, L&S America markets. We could have seen the low. If so, the HKMA has definitely won more than the battle. JMHO, Ron