Economy
Two-thirds of accountants expect recession spill-over into 2020
Two-thirds of accountants expect recession spill-over into 2020
2 in 5 expect GDP to decline by over 1%.
Export volumes contract 7.8% in September
This marks the seventh straight month of decline.
Business activity sinks to record-low as PMI drops to 39.3 in October
Demand from mainland China fell at the sharpest rate in 21 years.
SFC to issue virtual asset trading license
The regulator has published a set of standards comparable to licensed securities and trading brokers.
Hong Kong sinks into recession
GDP slumped 3.2% into region’s worst performance since the 2009 global financial crisis.
Hong Kong economic growth may plunge into negative territory by end-2019
Both domestic and external demand remained weak.
Hong Kong urged to boost $2b economic stimulus
Some subsidies may drive consumption overseas or remain useless amidst the protests, argued Natixis.
Exports down 7.3% to $347.7b in September
Total exports to Asia slipped 4.5% YoY.
Inflation slows to 3.2% in September
This was due to the effect of public housing rental adjustment dissipating in September.
Business conditions expected to deteriorate in Q4: survey
Retail, food and accommodation sectors expect output and prices to fall.
F&B sector's jobless rate hit six-year high in Q3
Unemployment levels in consumption and tourism-related segments were at the highest in two years.
Foreign companies in Hong Kong up 9.9% to 9,040 in 2019
More than 1,500 operates their regional headquarters in the city.
PMI sinks to eleven-year low in Q3
Hong Kong’s economy is contracting at an annual rate of just over 3% in Q3.
Hong Kong is the world's third most competitive economy
It topped macroeconomic stability, health, financial system and product market categories.
Q2 current account surplus more than doubled to $37.8b
This was due to a decline in the goods deficit and growth in the net inflow of primary income.
External debt hits $12.76t in Q2
However, the banking sector’s ED dipped.
Financial non-reserve assets hit $38.1b in Q2
External financial abilities and assets also stood at $42.96t.
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