October 25, 1997 |
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.
November 18, 1992 |
Hong Kong's stock market tumbled more than 3% Tuesday after a top Beijing official hinted that his nation's Communist leadership might abandon its deal ensuring the British colony stays capitalist after its return to China in 1997. Some local legislators expressed alarm over the remarks by Vice Premier Zhu Rongji on Monday in London. But analysts said foreign investors, keen to use Hong Kong as a gateway to the fast-growing China market, were unlikely to be scared off so easily.
October 24, 1997 |
The Hong Kong stock market panic that reverberated worldwide took chunks out of some Orange County companies, but bargain hunters were busy buzzing their brokers Thursday as they looked for good deals on sagging stocks. Datum Inc. in Irvine took the biggest whack, losing 28% of its value on the Nasdaq exchange. The stock of the maker of timing instruments for the telecommunications industry fell $7.19 a share to close at $18.44. Wall Street also knocked down Consumer Portfolio Services Inc.
May 31, 1997 |
Ask C.Y. Liu what it is about Beijing Enterprises Holding Ltd. that made him wait in a snaking line three separate times to apply for stock in the new company, and he offers the reasoning that has made many small-time investors here rich. "I don't know anything about it," he says, checking his pager's tiny screen for the latest stock report. "But the price is going to double, maybe triple."
May 26, 1992 |
Stocks powered through 6,000 points on the Hang Seng index for the first time Monday, propelled by a big interest rate cut and money fleeing Thailand's political crisis, brokers said. Buyers, straining at the leash since banks announced a surprise one-percentage-point cut in the prime rate after the market closed Friday, ran wild after the opening. Within minutes, the blue chip index surged more than 170 points to a high of 6,032.10 before profit takers moved in.
December 1, 1994 |
Jardine Matheson, the powerful trading house that helped transform this colony into a jewel of the British Empire, moved closer Wednesday to completing a symbolic retreat begun a decade ago when Britain agreed to return Hong Kong to China. Jardine, which inspired James Clavell's novel "Noble House," removed two of its flagship affiliates--Jardine Matheson Holdings and Jardine Strategic Holdings--from the stock market here. The companies will be traded on the Singapore stock market next year.
September 17, 2000 |
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.