October 24, 1997 |
Thursday's stock market declines in the United States, coming after sharp falls in the Hong Kong stock market, may be worrisome to U.S. investors fearing that events halfway around the world are exerting a major influence on their own portfolios. Here are some basic questions that American investors might have about how foreign markets affect U.S. stocks and bonds and whether the latest declines presage further trouble. * Q: We're thousands of miles from Hong Kong.
October 24, 1997
The plunge in the Hong Kong stock market this week--triggered by the perceived threat of currency devaluation there--has had a deeper global impact than the earlier crises in other Asian markets, because Hong Kong is the region's largest market, excluding Japan. What's more, many investors are worried about the potential response of Hong Kong's new Chinese rulers--especially President Jiang Zemin, to whom Hong Kong Chief Executive Tung Chee-hwa answers.
October 24, 1997 |
For most of the last few years, the growing consensus on Wall Street has been that it would take a big shock to end U.S. stocks' long bull market--some kind of dramatic and unexpected event that would stun the global economy. Could the current financial crisis in Asia, which began with the equivalent of a fire in Thailand's small and relatively unimportant markets last spring, be such an event?
December 5, 1992 |
A key gauge of prices on the Hong Kong stock market jumped 5.8% Friday in busy trading, recouping some of the week's losses. The market has been battered by worries about rising antagonism between China and Britain over the colony's future. Bargain hunters pushed the Hang Seng index of blue chip stocks up 289.89 points to close at 5,268.10. That wiped out three-fourths of Thursday's 433-point fall but still left the market down 718 points, or 12%, for the week.
January 27, 1992 |
Stocks Buffeted: Hong Kong stocks took a roller-coaster ride Friday as panic selling, bargain hunting and profit taking in turn buffeted prices. The blue chip Hang Seng index closed 25.76 points down, at 4,600.08, after a late flurry of profit taking, but it was well off a 50-point tumble in the opening minutes of trade.
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.