This report was prepared, approved and published by the Bank, and
distributed in Hong Kong by the Bank's Hong Kong Branch. The Hong Kong Branch
is a registered institution with the Hong Kong Monetary Authority to carry out
the Type 1 (Dealing in securities) and Type 4 (Advising on securities)
regulated activities under the Securities and Futures Ordinance. Investors
should understand the risks in investments and that prices do go up as well as
down, and in some cases may even become worthless. Research report on
collective investment schemes which have not been authorized by the Securities
and Futures Commission is not directed to, or intended for distribution in Hong
Kong.
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