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Securities Industry Hong Kong

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NEWS
October 25, 1997 | THOMAS S. MULLIGAN and MAGGIE FARLEY, TIMES STAFF WRITERS
Hong Kong stocks rebounded strongly Friday from their four-day free fall, but there was no celebration on Wall Street, where investors dumped big-company stocks for the second straight day. The Dow Jones industrial average dropped 132.36, or 1.7%, to 7715.41 after a strong morning rally fell flat. That loss was on top of a 186-point tumble Thursday. Especially hard hit in Friday's selling were the shares of semiconductor companies.
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BUSINESS
September 17, 2000 | TYLER MARSHALL, TIMES STAFF WRITER
The future of Hong Kong's new second-tier stock market looks impressive. It caters to small, smart high-tech companies looking for cash in a city busy reinventing itself as Asia's Silicon Valley. Hong Kong's treasure chest of investment capital and business savvy also seems a ready-made resource for a Chinese mainland economy rich in new ideas but short on money to develop them.
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BUSINESS
July 3, 1997 | (Associated Press)
After being closed for five days while China took over the colony, Hong Kong's stock market opened higher today before slipping back to below-record territory. Investors sent the benchmark Hang Seng index to an all-time of 15,196.79 on Friday, ending more than a century of trading under British rule with a flourish and signaling confidence in Hong Kong's financial future. In the first day of trading under Chinese sovereignty, the index opened up 149.20 points at 15,345.
BUSINESS
September 16, 1998 | RONE TEMPEST, TIMES STAFF WRITER
Before Hong Kong passed from British to mainland Chinese control in July 1997, the big fear was that the considerable political and press freedoms enjoyed here would be endangered under the new regime. There was less concern, even among the most alarmist critics, that Hong Kong's vibrant market--long rated one of the freest in the world--would be compromised.
BUSINESS
October 24, 1997 | MICHAEL A. HILTZIK, TIMES STAFF WRITER
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.
BUSINESS
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.
NEWS
October 24, 1997 | TOM PETRUNO and EVELYN IRITANI, TIMES STAFF WRITERS
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?
BUSINESS
December 5, 1992 | Associated Press
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.
BUSINESS
January 27, 1992 | From Times Staff and Wire Reports
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.
BUSINESS
October 27, 1992 | From Reuters
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.
BUSINESS
September 7, 1998 | Bloomberg News
Hong Kong stocks rose more than 7% in early trading Monday, leading most Asian stock markets higher, as interest rates fell to a four-month low on the back of government measures aimed at curbing speculation against the territory's 15-year-old currency board system. The government stepped up its battle against speculators Saturday, unveiling a package of measures to strengthen the currency's peg to the U.S. dollar and make it less susceptible to a speculative attack.
BUSINESS
October 29, 1997 | MAGGIE FARLEY, TIMES STAFF WRITER
Call it a coincidence that Chinese President Jiang Zemin swept into the United States for an official visit the same day that the Asian economic contagion felled the New York Stock Exchange. But the Asian currency turmoil that triggered Hong Kong's stock avalanche and shook the world's markets recalls a pebble dislodged many years ago in China's scramble to reach the top of the region's economic heap.
BUSINESS
October 28, 1997 | JAMES F. SMITH and MAGGIE FARLEY, TIMES STAFF WRITERS
In a dramatic manifestation of economic globalization, the investor assault on Asian markets widened its aim Monday to engulf bourses throughout Latin America, inflicting particularly heavy losses on the Mexican, Brazilian and Argentine stock markets, wiping out most of their healthy gains of the last year.
NEWS
October 25, 1997 | EVELYN IRITANI, TIMES STAFF WRITER
San Diego businessman Richard Franke didn't even bother stopping in Bangkok on a trip to Asia earlier this month. This summer's 40% plunge in the Thai baht had priced his firm's blood pressure monitors out of that market. Instead, he went to Malaysia to help out a new distributor shaken by that country's similar woes. And now he is closely monitoring the Hong Kong stock market, looking for signs of problems that would threaten his sales to mainland China.
BUSINESS
October 25, 1997 | MAGGIE FARLEY, TIMES STAFF WRITER
Despite Friday's partial rebound in stock prices here, the damage from the week's steep decline was already starting to make itself felt. At a real estate office near the edge of Hong Kong harbor, phones were ringing with property sellers willing to cut their asking prices to raise cash quickly. "Nobody wants to buy at this level," said Patrick Fung, sales manager for Midland Realty, describing new luxury developments that came to market this week that may stand empty for a while.
NEWS
October 25, 1997 | THOMAS S. MULLIGAN and MAGGIE FARLEY, TIMES STAFF WRITERS
Hong Kong stocks rebounded strongly Friday from their four-day free fall, but there was no celebration on Wall Street, where investors dumped big-company stocks for the second straight day. The Dow Jones industrial average dropped 132.36, or 1.7%, to 7715.41 after a strong morning rally fell flat. That loss was on top of a 186-point tumble Thursday. Especially hard hit in Friday's selling were the shares of semiconductor companies.
NEWS
February 27, 1993 | CHRISTINE COURTNEY, SPECIAL TO THE TIMES
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.
BUSINESS
February 16, 1993 | From Times Staff and Wire Reports
Hong Kong Stocks Up Sharply: The Hong Kong stock market gained sharply on reports suggesting that China may soften its opposition to talks with Britain about proposals by Gov. Chris Patten for wider democracy in the colony. The reports, in Chinese newspapers published in Hong Kong, were the first indication that China might drop its call for Patten to withdraw the proposals, published in October, as a precondition for talks. The Hang Seng index rose 191.29 points, or 3.
BUSINESS
October 24, 1997 | MICHAEL A. HILTZIK, TIMES STAFF WRITER
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.
BUSINESS
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.
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