Search

NEWS
ECONOMY | Staff Reporter, Hong Kong
Published: 17 May 12
259 views


Volatility to batter Hong Kong and other financial markets worldwide

The wild ride taken by the Hang Seng isn’t over.

Financial Secretary John Tsang expects fluctuations in Hong Kong and in global financial markets to continue since the Eurozone debt crisis remains unsettled.

Tsang said the recent loss in Hong Kong shares was expected and warned investors to be vigilant. He said he included measures to alleviate the situation in his last budget as he anticipated the global economies would remain unstable.

On May 16, the Hang Seng index posted its biggest loss in six months after Chinese media reported flat loan growth for the “Big Four” state-owned banks in the first two weeks of May.

The news sparked fears about the decelerating Chinese economy This plus news of Greece’s failure to form a government and a three-day losing streak on Wall Street combined to unnerve investors.

The Hang Seng Index ended down 3.2% at 19,259.83, the lowest close since Jan. 16 and its biggest drop in a day since Nov. 10 when it had fell 5.2%.
 



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: John Tsang, Hong Kong, Hang Seng

LATEST ECONOMY JOBS »
PRINT ISSUE »

Subscribe Now
Hong Kong’s 20 hottest startups to watch out for in 2015

104 views

Chinese shoppers snub HK stores

57 views

Hong Kong’s top 5 work from home jobs

58 views

MOST READ EXCLUSIVES

This startup builds Hong Kong's first fully online lending platform

This startup builds Hong Kong\'s first fully online lending platform

The company has raised USD20m in just a year.

by KRISANA GALLEZO
25 Mar 2015 | 597 views