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

To: Ramsey Su who wrote (2824)	4/21/1999 12:11:00 PM
From: Tom	Read Replies (1) \| Respond to of 2951

Hong Kong Market Report HSBC Quiet trading, still buying but less selling from the funds. Hutchison Investors were still cautious. Tingyi 5-day increase in turnover but still tightly traded at the 0.70 edge. This stock is the biggest instant noodle manufacturer in China, but is actually Taiwan based. Several months before this stock suddenly surged due to the strategic partnership with Campbell Soup. ----- This morning the HK$ market rebounded with the stabilization in the US market. Nevertheless the investors were mostly cautious, and would only chase after HK TeleCom, Wharf and Hutchison which all dropped heavily yesterday. For HSBC, it was traded in the red column throughout the day, and the market growth was thus choked. During the last 15 minutes however, some moderate buying in HSBC, believed to be from the European funds, lifted HSBC for more than 3 HK$, and thus the market rebounded rapidly. At the moment, the market has returned to the 12,500 level, possibly the first resistance will be at around 12,800. -----