FUTURE OF HONG KONG
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RESTRICTED
3. ENGLISH PRESS 8 NOVEMBER PROMINENTLY COVERED A P REPORT FROM UK QUOTING A HIGH LEVEL** SOURCE AS SAYING IT WAS INEVITABLE THAT H X WOULD BE RESTORED TO CHINA, THE CHINESE PRESS
DID NOT PLAY THE STORY UP AND GAVE IT ONLY MODERATE COVERAGE. NO FURTHER COVERAGE UNTIL TODAY THE EXPRESS IN AN EXCLUSIVE QUOTED A SENIOR STATE COUNCIL MEMBER THAT CHINA WOULD NOT TAKE BACK HONG KONG IN THE FORESEEABLE FUTURE.
ATLA:
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THE DECISON BY ATLA WAS CARRIED PROMINENTLY ON THE FIRST DAY. ONLY TWO CHINESE NEWSPAPERS CARRIED EDITORIALS, BOTH IN FAVOUR CF LAKER AIRWAYS BEING GRANTED A LICENCE.
US PRESIDENTIAL ELECTION:
5. MOST CHINESE NEWSPAPERS FELT HONG KONG WOULD NOT SUFFER WHATEVER DIRECTION US-CHINA RELATIONS TOOK. HOWEVER, BOTH ENGLISH AND CHINESE PRESS WERE CONCERNED ABOUT POSSIBLE TRADE BARRIERS.
STUDENT FEES:
6. THERE HAS BEEN LITTLE INTEREST IN THE PRESS REGARDING U K UNIVERSITY STUDENT FEES. LITTLE ATTENTION WAS PAID TO ONE PETITION.
VIETNAMESE REFUGEES,
7. THE ENGLISH AND CHINESE PRESS REPORTED THAT TWO VIETNAMESE REFUGEE CAMPS WERE TO BE CLOSED, AND THE ENGLISH PRESS REPORTED THAT HE WOULD BE RAISING IN THE UK THE QUESTION OF THE UK ACCEPTING MORE VIETNAMESE REFUGEES. THERE WAS NO
EDITORIAL COMMENT.
STOCK-MARKET:
8. SINCE NOVEMBER 1 THE HANG SENG INDEX HAS RISEN FROM 1,500 TO 1,650 IN VERY HIGH TRADING VOLUME AND MARKET OPERATIONS IN THE AFTERNOON HAVE NOW BEEN SUSPENDED FOR TWO WEEKS TO ALLOW BROKERS TO SORT THINGS OUT. ENGLISH AND CHINESE PRESS REFER TO THE 1973 CRASH, AND ADVISE SMALL INVESTORS TO STAY AWAY FROM THE MARKET. THE CHINESE PRESS IS CONCERNED THAT CAPITAL IS BEING DIVERTED FROM THE MANUFACTURING SECTOR TO THE MARKET.
2 RESTRICTED
/THE MACLENNAN
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