Economy
Startup funding goes low key amidst COVID-19 and social unrest
Startup funding goes low key amidst COVID-19 and social unrest
The total value of startup deals hit $9.84b, a 39% YoY drop compared to last year.
Rich Chinese shun Hong Kong to seek asset safety elsewhere
Some are looking to move their offshore wealth base to Singapore and Switzerland.
SGX plunges to 17-year low as MSCI signs pact with HKEX
The move deals a blow to SGX, which considers the Hong Kong bourse one of its main rivals.
Inflation eases to 1.9% in April
This was partly attributed to a smaller climb in private house rents.
Exports down 3.7% in April
Exports in non-metallic mineral manufactures led the decline.
Unemployment rate widens to 5.2% in February-April
This is the highest figure recorded in over a decade.
Export volumes down 9.1% in Q1
Volumes to the US led the decline.
GDP contraction widens to 8.9% YoY in Q1
The decline is said to be the worst drop on record.
Hong Kong amongst the last to recover from COVID-19: analyst
The region will likely go back to its pre-COVID levels by Q1 2021.
GDP growth drops 8.9% YoY in Q1
This is due to the weak performance in both domestic and external demand.
Exports down 5.8% to $323.6b in March
Exports to India, Thailand and Singapore posted double-digit declines.
Singapore and Hong Kong will be the most impacted amidst pandemic: Moody's
Both markets are deemed export-dependent.
Almost half of senior managers expects business situation to be worse in Q2
Accomodation and food services worst hit amongst all sectors.
Inflation up 2.3% YoY in March: C&SD
This is attributed to the rents paid and waived by the government.
Hong Kong's currency-peg defense heightened to $4.34b
HKMA sold $2.79b (US$360m) of the city’s currency.
Total exports volume up 5.4% in February
Exports to Vietnam, Taiwan and China saw double-digit increases.
Hong Kong's leaders see combined income cut of 20% on virus
A portion of the income has been donated to a charity organisation.
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