Search

The article reports on the impact of the anti-extradition protest movements on Hong Kong's economy for the second half of 2019, and includes economic indicators including purchasing managers' index, confidence in the local economy, and gross domestic product growth.

(Bloomberg) -- The Hong Kong Monetary Authority cut its benchmark interest rate in line with the U.S. Federal Reserve, opening the door for lower retail borrowing costs to boost the sagging economy. The HKMA on Thursday lowered its base rate to 2.5% from 2.75%, in step with the Fed's quarter point move. [Extracted from the article]

The blueprint for the Greater Bay Area linking China's southern coastal cities with Hong Kong and Macau, a signature policy of President Xi Jinping first articulated in 2017, boosted stocks after it was published late Monday. Still, China's major tech companies based in Shenzhen, which borders Hong Kong, haven't made the Greater Bay Area central to their future growth plans. [Extracted from the article]

"We suggest that the U.S. stops sticking obstinately to its course or China will take resolute countermeasures", the foreign ministry said. "The U.S. has damaged China's sovereignty and China will of course retaliate", said He, who is now a senior research fellow at the Center for China and Globalization in Beijing. [Extracted from the article]

"We suggest that the U.S. stops sticking obstinately to its course or China will take resolute countermeasures", the foreign ministry said. "The U.S. has damaged China's sovereignty and China will of course retaliate", said He, who is now a senior research fellow at the Center for China and Globalization in Beijing. [Extracted from the article]

(Bloomberg) -- China is making a habit of issuing vague retaliation threats. "The U.S. has damaged China's sovereignty and China will of course retaliate", said He, who is now a senior research fellow at the Center for China and Globalization in Beijing. [Extracted from the article]

(Bloomberg) -- The Hong Kong Monetary Authority cut its benchmark interest rate in line with the U.S. Federal Reserve, a mechanical outcome of the city's currency peg that's unlikely to be immediately passed on to the suffering economy. The Fed's cut may not have a direct impact on Hong Kong as Hong Kong dollar interest rates have been lagging U.S. dollar interest rates, HKMA Chief Executive Norman Chan said at a briefing, adding that short-term rate movements would be more affected by changes in the supply and demand of Hong Kong dollar funding. [Extracted from the article]

(Bloomberg) -- The Hong Kong Monetary Authority cut its benchmark interest rate in line with the U.S. Federal Reserve, a mechanical outcome of the city's currency peg that is unlikely to be immediately passed on to the suffering economy. HKMA's Chief Executive Norman Chan said local banks don't necessarily need to follow the Fed in a rate cut, because they have their own funding considerations. [Extracted from the article]

(Bloomberg) -- The Hong Kong Monetary Authority cut its benchmark interest rate in line with the U.S. Federal Reserve, an automatic response that's unlikely to lend much support to the city's sagging economy. The cut in isolation probably won't push banks to lower prime rates, but if the Fed cuts more, there is a stronger chance local banks will do so, he said. [Extracted from the article]

Hong Kong's economy expanded faster than expected in the second quarter, leading to an upward revision of the official full-year growth forecast. Rising asset prices, including home values, and strong consumer spending backed by low unemployment are driving performance in the former British colony. "In view of the likely positive developments on both the external and domestic fronts, the Hong Kong economy is expected to attain further solid growth in the rest of the year", the government said in a statement. [Extracted from the article]