Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: MR. PANAMA (I am a PLAYER) who wrote (39630)	10/4/1998 10:10:00 PM
From: MR. PANAMA (I am a PLAYER)	Read Replies (1) \| Respond to of 53903

Hong Kong stocks set to tumble on overseas jitters HONG KONG, Oct 5 (Reuters) - Hong Kong stocks are expected to tumble on Monday in reaction to sharp falls in U.S. and European markets last week due to fears of a global economic slowdown, brokers said. The local market had been unable to react to movements overseas with the stock exchange closed on Thursday and Friday to mark China's National Day. The Hang Seng Index was likely to dive at the opening on Monday with bargain hunting expected to set in at lower levels, brokers said. ''The market should fall as overseas stocks dropped sharply in the past few days while we were on holiday,'' said Ben Kwong, head of research at Dharmala Securities. Kwong said the blue chip index should see an initial support at 7,600 points with investors staying on the sidelines ahead of a public holiday on Tuesday for the Mid-Autumn Festival. The Hang Seng Index rose 45.85 points, or 0.59 percent, to close at 7,883.46 last Wednesday. But amid sharp falls in European markets, the Hang Seng London Reference Index dropped 297.47 points, or 3.77 percent, to close at 7,585.99 on Friday. The Dow industrials fell 244 points, or 3.0 percent, last week but finished on a positive note on Friday, closing up 152.16 points, or 1.99 percent, at 7,784.69. Index heavyweight HSBC Holdings Plc was expected to come under pressure due to concerns about its exposure to the world economy. But property stocks should be relatively steady, one broker said. Expectations that Hong Kong Chief Executive Tung Chee-hwa would revise the government's housing policy in his policy speech on Wednesday should give property stocks some support, the broker said. ''The downside of small residential units should be very limited since prices have fallen so much,'' he added. -- Hong Kong Newsroom (852) 2843 6369; Fax (852) 2845 0636 -- Email: hongkong.newsroom@reuters.com -------------------------------------------------------------------------------- Related News Categories: US Market News --------------------------------------------------------------------------------