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

To: tom who wrote (2314)	9/10/1998 10:31:00 AM
From: WONG	Read Replies (2) \| Respond to of 2951

HK residents are not buying US$ because of the high interest rates they are getting from their HK$ deposits. One of my in-laws works in the New Accounts department of a bank in HK. He worked till midnight just to clear up the new account openings when a 3 month deposit can easily fetch 10% interest a week ago. I think I would have done the same too. However, with the easing of the bank rates, the story might be a little different. I will call him up over the weekend to see if things are beginning to change.