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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (16844)	10/27/1998 5:45:00 AM
From: John Hunt	Read Replies (2) \| Respond to of 18056

Percentage of shares in each company held by the Government (Hong Kong) Chart scmp.com Story scmp.com Total Investment $118.13b Value Yesterday $146.54b This scares me ... If Al and his cronies look at Hong Kong and start to think they can't lose by intervening directly in the markets. :-((

To: John Hunt who wrote (16844)	10/27/1998 5:57:00 AM
From: John Hunt	Respond to of 18056

Intervention blamed as retail sales slump 20pc (Hong Kong) scmp.com And some of the ramifications. << Hong Kong retailers reported a 20 per cent drop in sales in August - the steepest decline this year - as consumer confidence was undermined further by the instability of the Hong Kong currency, Government figures reveal. The Government's $118 billion intervention in the stock market in the same month added further woes to already fragile spending sentiment, undermined by wage reductions and high unemployment, market watchers said. They said the drop in retail sales exceeded their forecasts of between 14 and 16 per cent, indicating the SAR's recession might have worsened. >>