TNAG-2735-FCO40-3943-Hong-Kong-role-of-the-Legislative-Council-(LEGCO)-1993 — Page 10

CONFIDENTIAL

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MDHIAN 8272

private sources are that the CPG, on the public record, inevitably, must attack this year's Policy Address in robust language. But the CPG's internal assessment will be more measured, with some recognition that I indulged in no polemics and emphasised the positive side of the China relationship.

10.

L

Those in the know on the stockmarket appear to be betting on a balanced CPG judgement. During this week, the market has risen by 4.75 percent to 8041 at yesterday's close. During the course of my speech alone, it rose by 80 points. This has also spiked the guns of the Cassandras in the business community.

11.

PATTEN

So far, so good; but choppy waters -

no doubt ahead.

-

YYYY

ΜΑΙΝ

57

.HK POLICY

HKD

PUSD

FED

DISTRIBUTION

64

NTCD

PLANNERS

RAD

PS

LEGAL ADVISERS//MS BARRETT

LEGAL ADVISERS//MISS BROOKS

NEWS D

PS/MR GOODLAD

SIR J COLES

MR HUM

ADDITIONAL

7

CAOFF//SIR R BRAITHWAITE (DIO) CAOFF//MISS NEVILLE-JONES

CAOFF//MR SIBSON PS NO 10.

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