ad info




TIME Asia
TIME Asia Home
Current Issue
Magazine Archive
Asia Buzz
Travel Watch
Web Features
  Entertainment
  Photo Essays

Subscribe to TIME
Customer Services
About Us
Write to TIME Asia

TIME.com
TIME Canada
TIME Europe
TIME Pacific
TIME Digital
Asiaweek
Latest CNN News

Young China
Olympics 2000
On The Road

 ASIAWEEK.COM
 CNN.COM
  east asia
  southeast asia
  south asia
  central asia
  australasia
 BUSINESS
 SPORTS
 SHOWBIZ
 ASIA WEATHER
 ASIA TRAVEL


Other News
From TIME Asia

Culture on Demand: Black is Beautiful
The American Express black card is the ultimate status symbol

Asia Buzz: Should the Net Be Free?
Web heads want it all -- for nothing

JAPAN: Failed Revolution
Prime Minister Yoshiro Mori clings to power as dissidents in his party finally decide not to back a no-confidence motion

Cover: Endgame?
After Florida's controversial ballot recount, Bush holds a 537-vote lead in the state, which could give him the election

TIME Digest
FORTUNE.com
FORTUNE China
MONEY.com

TIME Asia Services
Subscribe
Subscribe to TIME! Get up to 3 MONTHS FREE!

Bookmark TIME
TIME Media Kit
Recent awards

TIME ASIAWEEK ASIANOW TIME
SEARCH    GO

Tung Policy Address a Dud in Hong Kong
Market Q&A with Scott Blanchard, head of sales trading, ABN Amro
October 7, 1999
Web posted at 11 p.m. Hong Kong time, 11 a.m. EDT


Index Last Change %

Tokyo Nikkei 225

18,136

+240.1

+1.3

Hong Kong Hang Seng

13,113

+95.2

+0.7

Sydney All Ord.

2,912

+15.2

+0.5

Taipei Weighted Price

7,612

+110.3

+1.5

China Shanghai Comp.

1,571

closed

closed

Seoul Composite

851

+15.8

+1.9

Singapore ST Indl.

2,120

+19.3

+0.9

Bombay Sensitive Index

4,963

+265.4

+5.7

Kuala Lumpur Comp.

735

+20.5

+2.9

Bangkok SET

398

+2.6

+0.7

Manila Comp.

2,072

+14.1

+0.7

Jakarta Comp.

585

-3.4

-0.6

Karachi KSE 100

1,223

-1.7

-0.1



Q: So I talked to your colleague Dominic Armstrong yesterday in K.L. And in stark contrast to you, he was quite sanguine about the Malaysian market, which I will note rose nearly 3% today on the back of Wall Street and election hopes.
A: Well, it's his market.

    MARKET NEWS
CNNfn: Tokyo Hits 6-week High
Wall Street gains send Nikkei above 18K for first time in 6 weeks; others firm
- Thursday, Oct. 7, 1999

Market Q&A: The Other Side of the Asian Story
With Sadiq Currimbhoy, Asia strategist, Merrill Lynch and Dominic Armstrong, head of Singapore and Malaysia research, ABN Amro
- Wednesday, Oct. 6, 1999

  ALSO IN TIME
Asia Buzz: Dot-coms Get Street Smart
As the Internet takes over the popular psyche, domain names are blossoming--and running out
- Thursday, Oct. 7, 1999

Asia Buzz: A Wise Globalist
Japanese business sheds crocodile tears for Akio Morita
- Wednesday, Oct. 6, 1999

  ASIAWEEK
Intelligence
The story behind today's news from the editors of Asiaweek

Daily Briefing
Today's headlines from across the region

Q: So you get attached to your home market?
A: You can't get attached, because that's when you get burned.

Q: You certainly don't seem attached to Korea after spending two years there, but that's another story.
A: Korea's not dead. It just needs to be sufficiently discounted, and as long as they keep sweeping things like Hyundai under the carpet--they dropped that investigation again--it's going to be overvalued. If and when the KOSPI comes back down to 800, that's when to buy. The Koreans are always the greater fools in those cases.

Q: What about the Hang Seng? Would you buy the new 33-stock tracking fund the government is introducing Nov. 12?
A: I don't believe in tracking funds, and I don't think Hong Kong is going to see any sort of explosion.

Q: Tung Chee-hwa's policy speech didn't exactly inspire the market.
A: What a dud. A dud delivered by a dud. Just looking at Tung Chee-hwa--you know, he looks like a caricature of a Red Chinese communist party hack that would've appeared in the U.S. newsmagazines at the height of the Cold War--short and thuggish-looking. I mean, you can get away with an uninspiring message if you're Ronald Regan--if you're taller and more eloquent and look a bit more cutting-edge.

Q: Well, people expected him to talk about a strategy to revive the property market and he ended up talking about pollution, right?
A: That was just it. I think pollution is terrible here too, but protecting us from the smog is not going to jumpstart the property market.

Q: And hey, pollution doesn't seem to stop anyone from setting their sights on Chinese stocks.
A: Yes, H-shares and purple-chips (blue-chip red-chips) are going to do tremendously well. China's going to rally soon, but it's not necessarily going to flow down to Hong Kong. Whenever you see a macro turnaround, when you see the situation go from deflation to inflation, you move from a point of very little liquidity to a point of excess liquidity--that's your first leg of every bull market.

Q: What are some well-priced purple chips right now?
A: China Power, Legend Computer, China Shipping...

Q: Are you disappointed or surprised with Taiwan's success at coping with the quake? They haven't come back strong yet, though the index was up today and the official GDP growth estimate has still only been trimmed a tiny (0.2%) bit.
A: No, this is about where I expected them to be. I still really like Taiwan.

Interviewed by Maureen Tkacik/AsiaNow

Write to us at mail@web.timeasia.com
Search for recent Market Q&As

TIME Asia home

AsiaNow


   LATEST HEADLINES:

WASHINGTON
U.S. secretary of state says China should be 'tolerant'

MANILA
Philippine government denies Estrada's claim to presidency

ALLAHABAD
Faith, madness, magic mix at sacred Hindu festival

COLOMBO
Land mine explosion kills 11 Sri Lankan soldiers

TOKYO
Japan claims StarLink found in U.S. corn sample

BANGKOK
Thai party announces first coalition partner



TIME:

COVER: President Joseph Estrada gives in to the chanting crowds on the streets of Manila and agrees to make room for his Vice President

THAILAND: Twin teenage warriors turn themselves in to Bangkok officials

CHINA: Despite official vilification, hip Chinese dig Lamaist culture

PHOTO ESSAY: Estrada Calls Snap Election

WEB-ONLY INTERVIEW: Jimmy Lai on feeling lucky -- and why he's committed to the island state



ASIAWEEK:

COVER: The DoCoMo generation - Japan's leading mobile phone company goes global

Bandwidth Boom: Racing to wire - how underseas cable systems may yet fall short

TAIWAN: Party intrigues add to Chen Shui-bian's woes

JAPAN: Japan's ruling party crushes a rebel ì at a cost

SINGAPORE: Singaporeans need to have more babies. But success breeds selfishness


Launch CNN's Desktop Ticker and get the latest news, delivered right on your desktop!

Today on CNN

 Search

Back to the top   © 2000 Time Inc. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines.