TNAG-1270-FCO40-1620-Financial-policy-in-Hong-Kong-1983 — Page 28

HKK 10017.

REELED IN REGI Y NO. 51

20 OCT 1983

REMETRY

DESK OFFICER

INDEX

PA

Action Taken

#6F0057/17--

0000

00.PEKING

PEYING

87

•

ху

1027/17

нко

GR 80

CONFIDENTIAL

FM HONG KONG 170952Z OCT 83

TO IMMEDIATE FCO

TELEGRAM NUMBER 1539 OF 17 OCTOBER

INFO IMMEDIATE PEKING (PERSONAL FOR AMBASSADOR)

PERSONAL FOR CLIFT (HONG KONG DEPT) FROM GOVERNOR

EXCHANGE STABILISATION SCHEME

1. THE NEW SCHEME WAS WELL RECEIVED BY THE PRESS OVER THE WEEKEND. IT WILL TAKE A FEW DAYS FOR THE MARKET TO SETTLE DOWN BUT TODAY WAS NOT BAD. THE CLOSING RATE WAS HK DOLLARS 7.960 AND STERLING 11.94 TO 12.02. THE HANG SENG INDEX WAS UP 33.04 POINTS TO CLOSE AT 771.53.

2. WE WILL SEND A FURTHER REPORT TOMORROW.

YOUDE

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