Wednesday, December 10, 2008
Hong Kong Up Again Today
Hong Kong is up over 5% again today. Seems at odds with the view expressed by the chief of the Australian Reserve Bank regarding China's economy as the Hang Seng is often a very, very accurate indicator of the confidence of the Chinese cash emperors. (No criticism implied of the Reserve Bank..they seem on the money at the moment) But I would be expecting some more strong directions from the Central Economic Work Conference which, as I write, is winding up in Beijing. A recovery has started in my opinion and China is eyeing off some very cheap Global entities the acquisition of which will put them in the front of the field for the next twenty years.