GOVERNOR Chris Patten and his top advisers have decided there is no need for contingency measures - at least temporarily - in the face of the crisis. Executive Councillors expressed concern over the escalated tension at a regular meeting yesterday morning, but were adamant they should not overreact. A government spokesman said they would continue to watch the events with concern and hope for an early and peaceful resolution. He said the Government did not see the need to make emergency preparations for Hong Kong. 'We hope good sense will prevail,' he said. The spokesman said the fact the territory had suffered no major impact from the strait crisis demonstrated the strength of the territory's prudent fiscal policy. A senior official said they were satisfied the operation of the stock exchange had functioned well in spite of the shock. 'It did not show any sign of particular strain.' Financial Secretary Donald Tsang Yam-kuen said the confrontation would not be conducive to Hong Kong's economy and that it would have an adverse impact on China's Most Favoured Nation trade status.