The Hong Kong Monetary Authority (HKMA) has stepped in for the second time within three days to maintain the local currency’s peg to the US dollar after the Hong Kong dollar hit the strong end of its trading band. The city’s de facto central bank sold HK$9.532 billion worth of the local currency and bought…
The Hong Kong Monetary Authority (HKMA) has stepped into the financial market again to rein back the local currency, which had been pushed above its trading band against the US dollar amid the recent influx of capital in the city’s bourse. In its first market intervention in two years, the city’s de facto central bank…
Negative equity cases in Hong Kong’s real-estate market hit a new high, according to official data released on Wednesday, as elevated interest rates continued to weigh on property prices. The number of homes whose value sank below what their owners were paying for their mortgages rose 6.1 per cent to 40,741 cases in the first…
Negative equity cases in Hong Kong’s real-estate market hit a new high, according to official data released on Wednesday, as elevated interest rates continued to weigh on property prices. The number of homes whose value sank below what their owners were paying for their mortgages rose 6.1 per cent to 40,741 cases in the first…
The US-China trade war and its pressure on the weakening yuan may impair Hong Kong’s private housing demand and market sentiment, even as the city expects a stable supply in the coming decade, a local think tank has warned. Our Hong Kong Foundation, the city’s largest think tank, on Thursday revealed its 10-year forecast for…
The US dollar plunged to a three-year low on Monday following a fresh wave of criticism from President Donald Trump targeting Federal Reserve Chair Jerome Powell, raising concerns over the central bank’s independence and denting investor confidence in the US economy. The dollar index, which measures the greenback against a basket of major currencies, fell…
The insults and assaults may be global but, increasingly, Donald Trump’s war against everyone is being whittled down to a fight for dominance between America and its main rival, China. It is a war neither side can win. It’s more a question as to the amount of pain either country can endure and which will…
Donald Trump has hit out at the chair of the US Federal Reserve for not lowering interest rates, stating Jerome Powell’s “termination cannot come fast enough”. In a social media post on Thursday, the US president called on the Federal Reserve to cut interest rates, raising concerns that Mr Trump could seek to oust Mr…
Asian markets traded mostly higher on Thursday, while US stock market ended sharply lower overnight amid concerns over economic growth. While Japanese and South Korean markets traded higher, Hong Kong markets are likely to open on a weak note. Investor sentiment dampened after US Federal Reserve Chair Jerome Powell cautioned that US President Donald Trump’s…
President Donald Trump goaded China on Friday after the United States’ chief economic rival retaliated against his tariffs, and he dismissed falling stock markets over the growing global trade war, touting it as a chance to “get rich.” “China played it wrong, they panicked — the one thing they cannot afford to do!” Trump posted…