TNAG-1748-FCO40-2467-Visit-by-Sir-Geoffrey-Howe--Secretary-of-State-for-Foreign-a-1988 — Page 142

CONFIDENTIAL

(c)

HONG KONG STOCK EXCHANGE

glad that, despite October crash and arrest of Ronald Li

etc, confidence in Hong Kong Stock Exchange has not been too

dangerously impaired.

Hay Davison report should help consolidate international confidence in Hong Kong as financial centre. What reforms is Hay Davison going to propose? Will they work?

CONFIDENTIAL

Hong Kong Department

May 1988