December 7, 1992 |
China, a major player on Hong Kong's financial markets, is ready to pay a high price in a battle to block Gov. Chris Patten's democratic reform plans, analysts say. Beijing provoked panic on the stock market last week by threatening to tear up contracts signed by the pre-1997 British colonial government without China's approval. But China appears determined to ride out the storm, even if its economic interests in the capitalist enclave of Hong Kong are put at risk.
November 27, 1992 |
Hong Kong Gov. Chris Patten on Thursday sidestepped the ticklish question of how far to push for Japanese support of his democratic reforms, sparing Tokyo from choosing sides in the sensitive dispute between the British colony and China. In a meeting with Prime Minister Kiichi Miyazawa, Patten outlined his reform proposals to expand direct legislative elections, which have drawn sharp protests from Beijing.
October 27, 1992 |
Hong Kong's stock market plunged more than 3% Monday after an early selloff provoked by Beijing's blistering attack on Gov. Chris Patten's plans for democratic reform. The Hang Seng index nose-dived 249.6 points, or 4%, to a low of 6,012.94 shortly after the opening. But that drew in bargain hunters, and the market closed 200.07 points, or 3.19%, lower at 6,062.47. Brokers said the plunge was triggered by an attack late Friday by Lu Ping, China's top official responsible for Hong Kong.
February 27, 1993 |
Expectations of renewed Sino-British talks on Hong Kong's future boosted the stock market here Friday but provoked concern among liberal legislators who fear London may cave in to Chinese pressure. The blue-chip Hang Seng index surged 148.11 points to close at 6,351.99. The gain followed the colonial government's decision to delay Friday's planned publication of Gov.