Hong Kong Building/2000 results -- 2 (sluggish loan demand to continue)

In a statement accompanying its results, the company said it expects the sluggish loan demand and tough competition in the mortgage loan sector to continue.	    It said the interest rate cuts may improve sentiment in the property market and boost the confidence of potential home purchasers.	    However, the perceived slowdown in the U.S. economy and the recent fluctuation of the global stock markets may have a negative impact on the Hong Kong economy.	    The company said it will seek suitable investments when opportunities arise.	    The company attributed the fall in turnover to the sale of certain mortgages to a wholly-owned subsidiary of The Hongkong Chinese Bank Ltd.	    Hong Kong Building and Loan said a substantial portion of the proceeds from the sale was used to repay its bank loan. 

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