Search

IN FOCUS
ECONOMY | Tony Chua, Hong Kong
Published: 10 Aug 11
759 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 »
PRINT ISSUE »

Subscribe Now
HK tweaks insurance regulatory regime

2 views

Choosy Chinese shop elsewhere

1 view

HK entrepreneurs urged to ride the franchising tide

5 views

MOST READ EXCLUSIVES

Here's how a startup aims to market ‘kezhans’ digitally

Here\'s how a startup aims to market ‘kezhans’ digitally

This company has built SaaS digital marketing systems for boutique hotels.

by STAFF REPORTER
9 Jun 2015 | 1138 views
 

A room for video games at GoAnimate’s new office

A room for video games at GoAnimate’s new office

Check out the interior photos.

by STAFF REPORTER
9 Jun 2015 | 954 views

Le Slip Francais brings its fun and authentic French brand in Asia

Le Slip Francais brings its fun and authentic French brand in Asia

And Hong Kong is its new home.

by STAFF REPORTER
16 Jun 2015 | 819 views
 

Boxful: No more cramped spaces

Boxful: No more cramped spaces

This company enters Hong Kong storage wars.

by STAFF REPORTER
23 Jul 2015 | 288 views