Hong Kong took a lead from Wall Street, Tokyo and other overseas markets, and this explains gains this morning.

The Hong Kong market takes the lead from Wall Street and, to a lesser extent, other overseas markets such as Tokyo.

Gains on Wall Street overnight and in Tokyo this morning helped the market recover.

Take Tokyo: their prices are three times Shanghai. Look at Hong Kong: their prices in the market are twice Shanghai's prices. So there is still tremendous growth potential in this market as it moves to what it will ultimately become, which is the New York of Asia.

Films that are made in Hong Kong, Beijing, Seoul, Tokyo and Bangkok tend to feed off each other and multiply the potential of Asian cinema.

We may need a Hong Kong II,