I wish to express my shock and horror at what the Hong Kong Government has just done in its attempt to save the Hong Kong dollar peg and/or to punish international speculators. In my 30 years as an investor, I have never heard of a government anywhere in the world intervening directly in the stock and index futures markets in this way. This flies in the face of all accepted economic and financial logic, as well as plain common sense. The Government's actions will, if not stopped immediately and repudiated, simply destroy Hong Kong's financial markets, particularly where the futures and derivatives sectors and the short-selling of shares are concerned. Let us also not forget that many Hong Kong taxpayers who were not currency speculators sold the market short in recent days, using the various financial products legally permitted and actively promoted by the Stock Exchange of Hong Kong and the Hong Kong Futures Exchange. Suddenly, they are now told that they have incurred heavy financial losses because their government, using taxpayers' money, has bought shares and index futures to prop up the markets. This is a preposterous situation where the Government has directly interfered with the markets with the express purpose of influencing the outcome of investment activities, both of the hedgers and the speculators, on the pretext of punishing and deterring international speculators. It is akin to the police indiscriminately mowing down a crowd with machine-guns just because they believe that there are a number of criminals in the crowd. Officials must find other ways to solve Hong Kong's monetary and financial problems. NAME AND ADDRESS SUPPLIED