WEDNESDAY, NOVEMBER 11, 1987
UNLESS
THESE BILLION, THE INITIAL HK$2
OF
HK$2
AND
UNTIL
AS TO THE ADDITIONAL CREDIT FACILITY FUNDS WOULD NOT BE CALLED UPON BILLION HAD BEEN FULLY DRAWN.
COMMENTING ON THE DOUBT OF THE NEED FOR A STOCK INDEX FUTURES POSITIVELY MARKET IN HONG KONG, MR JACOBS SAID THE GOVERNMENT DID NOT ENCOURAGE THE ESTABLISHMENT OF THIS MARKET, BUT ON THE OTHER HAND NOT WISH TO FRUSTRATE ITS PROPERLY REGULATED DEVELOPMENT.
DID
HE SAID WHEN THE DECISION TO ESTABLISH THIS MARKET WAS MADE, IT WAS ACCEPTED THAT HONG KONG NEEDED TO KEEP ABREAST OF DEVELOPMENTS
FUTURES IN OTHER FINANCIAL CENTRES AND THAT AN INDEX HAVE POSITIVE IMPACT ON INVESTORS' INTEREST IN THE MARKET, PARTICULARLY THROUGH HEDGING THE VALUE UNPREDICTABLE MARKET MOVEMENTS.
OF
CONTRACT WOULD HONG KONG STOCK SHARES AGAINST
WHILE RECOGNISING THE DISADVANTAGES' INCLUDING THE POSSIBILITY AND THE POSSIBLITY OF
RISKS
OF THE INVESTING PUBLIC TAKING UNWISE MANIPULATING THE INDEX, MR JACOBS SAIDIT WAS THE CONSENSUS VIEW OF ALL PARTIES AT THAT TIME THAT THE ADVANTAGES DISADVANTAGES.
OUTWEIGHED
THE
HE NOTED THAT AFTER RECENT EVENTS BOTH HERE AND OVERSEAS,
A WAY OR PEOPLE'S PERCEPTION OF THIS TYPE OF MARKET WOULD CHANGE IN TO AN EXTENT THAT THE DEMAND FOR A FUTURES MARKET WOULD DIMINISH.
IT WAS NOT FOR THE GOVERNMENT ARTIFICIALLY ΤΟ CREATE OR SUPPRESS THE DEMAND FOR IT, HE SAID.
HOWEVER,
IMPORTANT STUDIES ON AIRPORT IN PROGRESS
INITIAL DECISIONS ON THE CONSTRUCTION OF A REPLACEMENT AIRPORT
BECAUSE BY COULD BE TAKEN TOWARDS THE END OF 1988
THAT TIME THERE WILL BE A BETTER KNOWLEDGE ABOUT KAI TAK AND THE MAXIMUM LENGTH OF THE TIME DURING WHICH IT WILL CONTINUE TO SERVE OUR NEEDS ADEQUATELY, FINANCIAL SECRETARY, THE HON PIERS JACOBS, SAID TODAY (WEDNESDAY).
SPEAKING IN THE LEGISLATIVE COUNCIL MEETING, MR JACOBS SAID TWO IMPORTANT STUDIES ON THE AIRPORT WERE IN PROGRESS.
"THE FIRST RELATES TO THE LIFE SPAN OF KAI TAK AND WHAT CAN DONE TO IMPROVE THE PRESENT FACILITIES. THIS CONSULTANCY SHOULD COMPLETED BY THE THIRD QUARTER OF NEXT YEAR.
BE
BR
"THE SECOND
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