CONFIDENTIAL
RESTRICTED
--2-
In speech to Legislative Council in October Governor
emphasised Hong Kong Government's intention to invest
vigorously in Hong Kong's future and its people and to
continue with the development of the territory.
G
Lord Belstead has just visited Hong Kong (6 10 December). The Main purpose of his trip was to exchange views on the
future. I myself am going there in
very much 'Business as usual'.
Famay
It is
DEFENSIVE
Hong Kong Stock Market and Dollar Exchange Rate
Ther é have been some sharp fluctuations since the
Prime Minister's visit. But Hong Kong's Hang Seng Index is
well known for being volatile.
the market:
Many factors have affected
world recession, reduced growth forecasts,
declining property prices and high international interest
rates. Hong Kong dollar likewise affected by strength of
US dollar.
:
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