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Article #25452only for info
From: Bill
Date: Sat, 15 Aug 1998 00:00
Date: Sat, 15 Aug 1998 00:00
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1824 bytes
We cut and pasted for you: In one crass move today, Donald Tsang, Hong Kong's finance secretary orchestrated a move whereby an estimated 3 billion HK dollars of public money was used to buy stocks purportedly to support the currency against speculators allegedly arbitraging between the equity market and HIBOR forwards. In one fell swoop, this nervous little man with his spotted bow tie has undermined Hong Kong as a global financial centre embracing free market principles - possibly egged on by the billionaire powerbrokers in the property development bubble industry here, whose wealth is threatened by falling asset values. Ignoring long-past US history and more recent Thai and Malaysian attempts at the same, which all failed, Tsang and his associates have spent (and have said will continue to spend) public money in an arrogant declaration of open market manipulation. Professional and private investors alike must now ask the question of whether their investment decisions in this market are ever likely to enjoy a level playing field while he remains at his post? These are the facts. The conclusion must be yours.
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X-Google-Language: ENGLISH,ASCII-7-bit X-Google-Thread: fe92c,9b18b1babe19f79e,start X-Google-Attributes: gidfe92c,public X-Google-Thread: 1020be,9b18b1babe19f79e,start X-Google-Attributes: gid1020be,public X-Google-Thread: 10ac4c,9b18b1babe19f79e,start X-Google-Attributes: gid10ac4c,public From: "Bill" <bs134385@skynet.be> Subject: only for info Date: 1998/08/15 Message-ID: <6r48jl$obn$1@news1.skynet.be> X-Deja-AN: 381422213 X-MimeOLE: Produced By Microsoft MimeOLE V4.72.3110.3 X-Complaints-To: news@skynet.be X-Trace: news1.skynet.be 903194037 24951 (None) 195.238.31.139 Organization: AMBERES Newsgroups: be.finance,fido.belg.beurs,nl.beurs