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.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (33492)	5/8/1999 12:39:00 PM
From: lorne	Read Replies (1) \| Respond to of 116972

Hi Alex. Guess its not manipulation if goverment intervenes in market. Top HK Billionaires Double Their Wealth in 9 Months 1999.05.08¡@2:04am Taiwan time updated Singapore, May 7 (CNA) Hong Kong's top billionaires have seen the net worth of their flagship companies more than double in under nine months, thanks to the Hong Kong government's market intervention and the recent stock rally, according to a report in Singapore's Business Times. For the four most famous families alone, the steady market climb has added a combined HK$133 billion (US$17.1 billion) to their controlling stakes in their flagship listed conglomerates. The share prices of Sun Hung Kai Properties, Cheung Kong Holdings, Henderson Land and New World Development more than doubled between August 13, 1998, the day before the government intervention, and Thursday's close. Based on a simple computation which took into account only the stakes controlled by the families in their flagships, and the difference in closing prices, the Kwok family was the biggest gainer from the government's intervention last August. The controlling family of Hong Kong's largest property group saw their stake surge some HK$53.9 billion in value during the period, from HKS$21.60 to HK$71.75. The Kwok's had been the hardest hit in terms of the loss in net worth during a massive selldown last year. Before the government intervened in the stock and futures markets to ward off what it described as market manipulators on Aug. 14, the Hang Seng had traded from the all-time high of 16,820 about a year earlier. The benchmark index at Thursday's close was 13,570 or 103 per cent higher than the lowest level recorded last year. Li Ka-shing, who controls Cheung Kong Holdings, saw his 34.9 percent stake increase some HK$34.5 billion in value to HK$57.47 billion during the same period. Lee Shau-kee, widely reported as the richest man in Hong Kong, also made a stunning recovery in the last nine months, with his stakes in Henderson Land rising HK$33 billion to HK$55.79 billion. Cheng Yu-tung, the founder of New World, saw the company's share price rise to HK$23.60 from HK$7.95 during the nine-month period. His controlling stake came to almost HK$12 billion. Citic Pacific chief Larry Yung, ranked the richest man in mainland China, saw his net worth rise HK$5.87 billion to HK$9.58 billion. chinatimes.com.tw

To: Alex who wrote (33492)	5/8/1999 2:35:00 PM
From: Bearcatbob	Read Replies (1) \| Respond to of 116972

Thread, Now, if I was interested in maximizing the monetary value of my gold I would not announce a sale until after it happened. On the other hand, if I was trying to manipulate the price of gold I would make an announcement. Then, I could or could not follow through with the sale. Give me a break! Bob