CONFIDENTIAL
057235
MDHIAN 1287
16. THERE ARE NO SIGNS OF ECONOMIC OR FINANCIAL PANIC. THE EXCHANGE RATE AND INTER BANK RATES HAVE HELD WELL. (WE HAVE FAXED TO YOU SEPARATELY BACKGROUND BRIEFS ON THE ECONOMY AND THE FINANCIAL MARKETS). SO HAVE THE INSTITUTIONAL ARRANGEMENTS OF THE STOCK MARKET AND FUTURES MARKET.
17.
COMMERCE WITH SOUTH CHINA, COMMUNICATIONS LINKS AND BUSINESS GENERALLY ARE ALL OPERATING NORMALLY. BUT TOURISM-RELATED BUSINESS IS DOWN.
18. CONFIDENCE IS AT ITS LOWEST EBB IN RECENT TIMES. EVEN ON THE MOST OPTIMISTIC SCENARIO OF EVENTS IN CHINA AND MOVES BY HMG ON RIGHT OQF ABODE, IT IS GOING TO TAKE A LONG TIME TO RECOVER.
WILSON
YYYY
MAIN
45
LIMITED
HKD
FED
DISTRIBUTION
45
PS/MRS CHALKER
PS/LORD GLENARTHUR
NEWS DEPT
PROTOCOL DEPT
PS
MR GILLMORE
MR MCLAREN
NNNN
PAGE
4
CONFIDENTIAL
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