Hong Kong dollar peg raises concerns as second Trump era begins

HONG KONG — As Hong Kong returns to the global top five for public offerings, propelled by Chinese companies seeking dollar funding outside the U.S., concerns are rising over the long-established Hong Kong dollar peg crucial for the listings.

Questions about the peg — under which the Hong Kong dollar is set at a narrow trading range of between 7.75 to 7.85 to one U.S. dollar — aren’t new. But they are growing amid fears that the currency link is holding back the local economy.