Keep Us Strong WikiLeaks logo

Currently released so far... 64621 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Browse by classification

Community resources

courage is contagious

Viewing cable 08HONGKONG2003, Hang Seng Rockets Up 13 percent.

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #08HONGKONG2003.
Reference ID Created Released Classification Origin
08HONGKONG2003 2008-10-30 10:32 2011-08-23 00:00 UNCLASSIFIED Consulate Hong Kong
VZCZCXRO8942
RR RUEHCHI RUEHCN RUEHDT RUEHGH RUEHHM RUEHNH RUEHVC
DE RUEHHK #2003 3041032
ZNR UUUUU ZZH
R 301032Z OCT 08
FM AMCONSUL HONG KONG
TO RUEHC/SECSTATE WASHDC 6143
INFO RUCNASE/ASEAN MEMBER COLLECTIVE
RUEHOO/CHINA POSTS COLLECTIVE
RUCPDOC/DEPT OF COMMERCE WASHDC
RUEATRS/DEPT OF TREASURY WASHDC
UNCLAS HONG KONG 002003 
 
SIPDIS 
 
STATE FOR EAP/CM AND EEB/OMA, TREASURY FOR OASIA 
 
E.O. 12958: N/A 
TAGS: ECON EFIN EINV ETRD HK CH
SUBJECT: Hang Seng Rockets Up 13 percent. 
 
1.  Following a moderate gain of 0.84 percent on Wednesday, the Hang 
Seng Index jumped almost 13 percent on Thursday, to finish up 1628 
points at 14,329, up 12.82 percent.  The Federal Reserves 50 basis 
point cut helped, but had been widely expected.  The Chinese Central 
Bank announcement that it would also cut its benchmark rates by 27 
basis points undoubtedly helped Chinese stocks, but remarks by 
Chinese Premier Wen Jiabao suggesting China would make "all out 
efforts" to support Hong Kong's economy were the real market driver. 
 
 
2.  Wen promised to work with Hong Kong financial regulators on 
contingency plans to handle risks; fast-track infrastructure 
projects, including the HK-Macau-Zhuhai bridge project; guarantee 
stable food supplies to Hong Kong; provide support for Hong 
Kong-based SME's with operations in China; and extend the individual 
traveler scheme to additional Chinese cities so Chinese tourists 
will find it easier to come to Hong Kong. 
 
3. Interbank liquidity loosened considerably for all tenures.  HIBOR 
on Thursday, October 30 was 0.7 for over night, up slightly from 
down from 0.5 percent on Wednesday; 1. percent for one week, 
unchanged; 2 percent for two weeks, unchanged from Wednesday; 2.45 
percent for one month, down from 3.05 percent; 3 percent for two 
months, down from 3.3 percent; 3.4 percent for three and six month 
borrowing, down from 3.6 percent; 12 month loans dropped to 3.45 
percent, also from 3.6 percent on Wednesday.