Asia's war on speculators is proving to be a costly one
Article Abstract:
The unorthodox economic policies implemented by the Malaysian and Hong Kong governments are perceived negatively by investors. Malaysian Prime Minister Mahathir Mohamad opted to impose capital control which prohibits foreign trading of ringgit for one year to protect Malaysia's economy from further problems. The Hong Kong government just bought an 8.9% share in the city's largest bank, HSBC Holdings PCL, making the government its largest shareholder. The latest efforts to curb foreign speculation has resulted in rampant short-selling of stocks which ultimately hurts the economy.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Asia likely to see limited effect from Greenspan's talk: lower U.S rates would help alleviate pressure on yen and other currencies to some extent
Article Abstract:
The announcement of US Federal Reserve Board Chairman Alan Greenspan that the agency will likely impose new interest rate cuts has a number of stock and investment analysts in Asia skeptical of its effects on propping up the region's economy. Analysts believe that the announcement is likely to produce only localized improvements, such as the higher posted composite stock in Manila and Hong Kong. This is because lower interest rates would likely draw investments from the risky investment environment of the region to be invested in the safer haven of the US stock market.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Estimating Disney's impact is no small task: debate over benefits of theme park is likely to rage for some time
Article Abstract:
Hong Kong hopes that its deal with Walt Disney Co. to create the company's third non-US theme park will give the former British colony a much-needed economic boost. Hong Kong's economy remains weak, despite the recovery occurring in most of Asia. According to government officials, Hong Kong Disneyland will increase local tourism revenues by over US$1 billion. It is difficult to calculate the park's true benefits, however, and there is likely to be heated debate over the project.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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