TNAG-1322-FCO40-1728-Future-of-Hong-Kong-opinion-polls-and-surveys-1984 — Page 190

CONFIDENTIAL

ASSESSMENT OFFICE

9. THE ANNOUNCEMENT THAT INDIVIDUAL SUBMISSIONS TO THE ASSESSMENT OFFICE (OTHER THAN SUBMISSIONS FROM MAIN ORGANISATIONS) WILL BE

DESTROYED HAS BEEN WELL RECEIVED.

ECONOMIC CONFIDENCE

10. THERE ARE INDICATIONS OF AN IMPROVEMENT IN SENTIMENT.

THE HANG SENG INDEX HAS BEEN FIRM, CLOSING YESTERDAY AT A 6-MONTH HIGH OF 1,028. THE EXCHANGE RATE HAS BEEN SLIGHTLY MORE SETTLED, AND ON 18 OCTOBER MOVED BELOW U.S. DOLLARS 7.83. THE TRADE

WEIGHTED VALUE OF THE HK DOLLAR IS 75.2 ON THE INDEX WHICH IS BACK

WHERE IT HAD BEEN IN MAY 1983. THE HONG KONG DOLLAR HAD DEPRECIATED BY 12 PERCENT AGAINST THE U.S. DOLLAR SINCE THAT DATE BUT HAS APPRECIATED 18 PERCENT AGAINST THE RMB AND 13 PERCENT AGAINST THE

POUND STERLING. THERE CONTINUE TO BE REPORTS OF BETTER BUSINESS PROSPECTS, AND OF INCREASED DEMAND FOR MODERATE-PRICED RESIDENTIAL PROPERTY.

YOUDE

FUTURE OF HONG KONG

LIMITED

HD/HKD

HD/FED

HD/PLANNING STAFF

HD/PUSD

DEP HD/PUSD

RESEARCH D (MR WALKER)

PS

PS/LADY YOUNG PS/MR LUCE PS/PUS

MR DEREK THOMAS

SIR W HARDING MR GOODALL MR WILSON

SIR J FREELAND

COPIES TO:-

BUCKINGHAM PALACE

PS/LORD PRESIDENT OF THE COUNCIL PS/HOME SECRETARY

PS/CHANCELLOR OF TH EXCHEQUER

PS/LORD PRIVY SEAL

PS/SECRETARY FOR TRADE & INDUSTRY

COPIES TO:- (VIA ADR)

MR ROBERTS NEWS D

MR FIFOOT LEGAL ADVISERS

MR BURROWS LEGAL ADVISERS

MR POWELL NO 10 DOWNING ST.

MR INGHAM NO 10 DOWNING ST.

MR MARTIN ASST STAFF CABINET OFFICE MR CARTLEDGE CABINET OFFICE

MR COLVIN CABINET OFFICE PS/S OF S FOR DEFENCE

PS/ATTORNEY GENERAL

SIR P CRADOCK ROOM K195

SIR P CRADOCK NO 10 DOWNING ST.

MR KELLY TREASURY

3

CC NFIDENTIAL