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BEA could be a victim of fear

Analysts and market observers think the run on Bank of East Asia may be due to the current trouble on Wall Street and fear psychosis.
Is Bank of East Asia a victim of the current fear psychosis and panic created as a result of the turmoil in international money markets Possibly yes, according to banking analysts and market experts.

The Hong Kong-listed mid-size bank continued to be swarmed by depositors for a second straight day yesterday, with account holders rushing to withdraw their money despite continued assurances from regulators and management that the fifth largest bank in Hong Kong is financially stable. The bank, controlled by David Li, has been under siege from depositors after rumours spread, through text messages, that the bankÆs finances were unstable and it faced financing difficulties.

The run on the bank comes after BEA announced...
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