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

To: Tom who wrote (2604)	12/30/1998 11:29:00 AM
From: Tom	Read Replies (1) \| Respond to of 2951

Hong Kong Market Report December 30 After the market closed, some observers suggested that very likely quite a no. of funds have missed the sudden rally in the last quarter. In order that they would not post an inferior performance as compared to the yearly growth in the HK market, some of them have determined to choke the HK market growth momentarily by stopping most of the buying (this explains the very thin turnover during this week). At the same time they use index futures/options to lock-in their portfolio. In this concern, the turnover in the coming several days will be a critical factor in determining whether these institutional investors have come back to the market.