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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: tom who wrote (6412)	9/14/1998 11:17:00 AM
From: Ron Bower	Read Replies (1) \| Respond to of 9980

tom, Or could it be that they held about 30% of reserves in yen? Ron

To: tom who wrote (6412)	9/14/1998 11:21:00 AM
From: Paul Berliner	Respond to of 9980

Tom, thread: Bridge News has reported over and over again how the Chinese figures are constantly fudged, ultimately resulting in revision after revision of GDP, nonperforming loans, etc... And another note: after a little research I learned why HK's FX reserves were mysteriously undisturbed in the month of July and how the Aug. numbers will also show less depletion than anticipated, despite the massive Hang Seng purchases (I've previously mentioned how fishy I though the data was, but did kow-tow on my prior criticisms). The answer is that China has been footing the bill. So how comes China's FX reserves havn't been depleted drastically? They have, only they won't let you know it. China has supplied the bulk of the cash for boosting the HS. Bam. I'm sure many on this thread will offer strong rebuttals to this post but in my view, if it walks like a rat, talks like a rat and smells like a rat, guess what? Odds are its a rat. Whether this is the Year of the Rat, I can't say for sure, but it would make certainly make me smile.