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(3) The following table sets out past political events
with the exchange rate of the HK dollar against the
US dollar:
Date
Event
HK dollar per US dollar
(HK$)
End Aug 1982
6.100
End Sept
PM's visit to HK after Peking
6.285
End Oct
After various visits by various organisations
6.910
to Peking
Nov 1982
Quiet period
6.500 6.860
Mar 1983
End Apr
"1
After visit by academics to Peking
6.918
7th June
After visit by professionals
7.600
to Peking
End June
7.200
End July
Second round of talks
7.310
8th Aug
After close of second round of talks
7.515
(4)
-
But the more
As an illustration, in 1973 the Hang Seng index of share
prices was nearly halved in one month it fell from a peak of 1 774.96 on 9th March to 924.50 on 9th April, and further to 656.03 on 9th May.
sophisticated and informed market that exists today could also suffer serious setbacks. For example, the Hang Seng index fell from 1 313 on 15th July 1982 to 676 on 2nd
December 1982.
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