HSBCÆs forecasts offer mixed hope

HSBC''s annual Asian forecasting report advises long positions in the Singapore dollar and Thai baht, but sees growth falling off in all countries except China and India.

HSBC has put out its 2001 currency forecasts. In the Philippines it is forecasting the peso at Ps54 $1.02 by year end and GDP growth of 1%. It also estimates that the budget deficit finished 2000 at Ps120 billion $2.27 billion, almost double the countrys original target of Ps62.5 billion.

In Malaysia it is forecasting 3.5% growth and saying the governments finances will suffer from lower oil prices. It assumes the ringgit will remain pegged at M$3.80.

In Korea it is forecasting 3.7% growth and a year end won of W1250. It sees better growth of 5.6% for India and a rupee that slips to Rs49.60. It is bullish thanks to...

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