Run with the bulls: Morgan Stanley leaves Hongkong players behind
Article Abstract:
Morgan Stanley Asia, subsidiary of a US-based institutional fund manager, is one of a number of American and Chinese firms that have profoundly changed the Hongkong stockmarket and helped to trigger the current bull market. The influx of foreign investors has vastly increased the amount of money changing hands, with $100 million transactions taking the place of $20 million transactions. Morgan Stanley has been able to capitalize on and to reinforce these changes through accurate assessments of the market, as when it developed a convertible bond for Henderson Land on Oct 1, 1993.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Watching Morgan move
Article Abstract:
A typical day for Morgan Stanley Asia's Hongkong equity group begins at 10 am. The Hongkong exchange's Heng Seng index reached an all-time-high of 9,000 points on Oct 18, 1993 after several months of general increase amid dramatic fluctuations, but Morgan's managers now expect comparative stability. Sensing a softer market, Morgan chooses to sell. The market's downtrend confirms the wisdom of this strategy. The exchange closes at 3:30 pm, whereupon Morgan's fund analysts check up on other Asian markets.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Just like Hongkong
Article Abstract:
Canton keeps real estate deals on track while the credit crunch derails them elsewhere in China. The freewheeling, decentralized municipal bureaucracy has 55 development corporations aggressively pursuing property and projects. In 1992 the city's land leases raised $1.6 billion, four times the 1991 income. Money from Hongkong funds much of the construction, freeing the city from Vice-Premiere Zhu Rongji's credit squeeze.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Break with the past: Kim tries to remake ruling party in his image. Stolen thunder: Kim's reforms marginalise the opposition
- Abstracts: Socking it to them: Clinton warns Pyongyang on nuclear weapons. Russian roulette: Seoul fears Yeltsin defeat could benefit Pyongyang
- Abstracts: Veto warning: Patten threatens to reject bills that may upset China. Elephants' graveyard
- Abstracts: System overload: Indonesia's private power plans may be too ambitious. Vapour trail