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

To: Tom who wrote (2615)	1/5/1999 9:14:00 AM
From: WONG	Read Replies (3) \| Respond to of 2951

It is an open secret that development capital from the central government to these rural provinces have been funneled to Hong Kong to participate in the "Get rich quick" games in the property and stock markets by the local officials. The Plan is simple, make 2-5X return on the government money, pocket all the profits and return the original sum, hopefully in a matter of short weeks. I guess some even "ate" the original capital now, eh? BTW, looks like the EURO is becoming quite a magnet to the Fund managers, there's a lot of shuffling of money from Asia to the Euroland over these two days. The dropping US$ also meant that the HK$ is being devalued as well....a desirable effect?