Search

IN FOCUS
ECONOMY | Tony Chua, Hong Kong
Published: 10 Aug 11
736 views


Finance secretary: Hong Kong dollar is stable

Tsang said downgrade of US debt rating by itself would not spark crisis but by other economic factors.

Financial Secretary John Tsang on Tuesday told reporters the Hong Kong dollar is stable, and banks and financial institutions are operating normally.

He said market fluctuations are expected and advised small investors to exercise caution and act sensibly.

The government's emergency coordination mechanism has been activated, to continue monitoring the market and making any necessary adjustments, he said in a government report.

Hong Kong's stock market fell on Monday, as did markets in Europe, America and other countries as investors fled from stocks.

Asked if there would be another financial crisis, Mr Tsang said the downgrade of US debt from Triple A to Double A+ itself would not trigger a crisis. But other economic factors must be observed, including the unemployment rate and inflation.



Sign up for our newsletter

 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.

Tags: Hong Kong economy, HK dollar, Hong Kong currency

LATEST ECONOMY JOBS »
  • No jobs posted on this category.
    PRINT ISSUE »

    Subscribe Now
    A journey to Lantau Island

    66 views

    Hong Kong jewellery market loses high-end lustre

    36 views

    Filling the sandwich class in Hong Kong

    25 views

    MOST READ EXCLUSIVES

    I need space: This sibling-powered startup gives solutions for an extra home space

    I need space: This sibling-powered startup gives solutions for an extra home space

    No renovation required, just your smartphone.

    by KRISANA GALLEZO
    13 Jan 2015 | 1571 views
     

    The future of innovation: What’s next after Facebook and Twitter?

    The future of innovation: What’s next after Facebook and Twitter?

    A video version of Twitter might be under way.

    by KRISANA GALLEZO
    11 Dec 2014 | 1392 views

    Here’s a startup that allows real-time booking for corporate access

    Here’s a startup that allows real-time booking for corporate access

    In just two years, it has raised a total of $US3.7m in seed and series A funding.

    by KRISANA GALLEZO
    15 Dec 2014 | 1182 views
     

    Are you ready for Italian mania? Jamie’s Italian finally hits Hong Kong

    Are you ready for Italian mania? Jamie’s Italian finally hits Hong Kong

    The new outlet features a bold graffiti mural by the founder’s long-time pal.

    by KRISANA GALLEZO
    3 Nov 2014 | 1097 views

    HK Government House’s former chef unveils own contemporary Chinese restaurant

    HK Government House’s former chef unveils own contemporary Chinese restaurant

    Its interior boasts of an East meets West ambience with a modern twist.

    by KRISANA GALLEZO
    16 Jan 2015 | 738 views
     
    close Don't Show Again

    STAY INFORMED! Get our free weekly newsletter