Racing the clock
Article Abstract:
The Sydney Futures Exchange and the Australian Stock Exchange conducted their first joint investigation of possible market manipulation by Nomura Securities. The investigation was initiated after Nomura's office in Hong Kong flooded Australian brokers with $395 million of sell orders during the last 15 minutes of trading on Mar 29, 1996 causing the Sydney All-Ordinaries Index to fall 21 points for the day. Local stockbrokers reported that Nomura had 10,000 hedge contracts offsetting a portfolio of Australian stocks worth about $500 million Australian dollars.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Bear in mind
Article Abstract:
The Hong Kong economy appears to be performing well with 5.5% economic growth by year-end 1996 and an estimate of just over 6% for 1st qtr 1997. There is still concern that boosts to the economy from major projects like the new airport will end, and that exports have been dropping while imports have risen. Hong Kong is especially dependent on services such as the stock market, and residential real estate prices are up by 30% in 1997. A collapse in real estate and stock prices could hit the Hong Kong economy hard, argues Marc Faber, investment analyst.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
The case against Hong Kong
Article Abstract:
Hong Kong's economy is affected by its currency being overvalued, according to Asian Hedge Fund's William Kaye. Real estate transactions have dropped, and hotels are using only half their capacity. Hong Kong's fiscal surpluses have been used to defend the currency. Interest rates are high which means tighter credit to defend an overvalued currency. Red chips appear overpriced. Hong Kong benefits from links with China, though could be hit by competition from ports on the mainland. Hong Kong should not be viewed as a safe haven for investors.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Training is the key. The Renaissance Man. Waste not: government pushes water-conservation campaign
- Abstracts: Theatre in the frame. The costs of fire precautions. Manufacturing buildings
- Abstracts: Saving St Michael. The art of the profitable. The accidental adjudicator
- Abstracts: The changing consumer in Greece. The changing consumer in Italy
- Abstracts: The changing consumer in Germany. The changing consumer in Portugal