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Stock Exchanges Hong Kong

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BUSINESS
September 17, 1998 | Bloomberg News
The Hong Kong Monetary Authority was wrong to buy stocks on the Hong Kong market in an effort to prop up the equity market, Federal Reserve Board Chairman Alan Greenspan said. "They won't succeed," Greenspan told members of the House Banking Committee. "And it erodes some of the extraordinary credibility the Hong Kong monetary authorities achieved over the years." Hong Kong's benchmark Hang Seng index has risen 8.8% during the last month, as the Hong Kong Monetary Authority spent at least $12.
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BUSINESS
September 17, 1998 | Bloomberg News
The Hong Kong Monetary Authority was wrong to buy stocks on the Hong Kong market in an effort to prop up the equity market, Federal Reserve Board Chairman Alan Greenspan said. "They won't succeed," Greenspan told members of the House Banking Committee. "And it erodes some of the extraordinary credibility the Hong Kong monetary authorities achieved over the years." Hong Kong's benchmark Hang Seng index has risen 8.8% during the last month, as the Hong Kong Monetary Authority spent at least $12.
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