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Hong Kong shares continued to move lower on Friday with the fifth successive daily Hang Seng retreat and sharpest weekly decline for close to three months as confidence deteriorated further. US equity markets were unable to make any significant impression on…
Winter is coming to Hong Kong. The Hong Kong dollar breached its 2007 low today, down to as low as 7.8226, just haircuts away from the 7.85 level that would prompt the Hong Kong Monetary Authority to intervene. After China decoupled its loosely pegged yuan…
As China devalues yuan and the U.S. is on track to raise rates, Hong Kong, whose currency is pegged to the dollar, is in trouble. Forecasting “black sky”, UBS now sees the Hang Seng Index to end the year at 19,775, another 5.5% downside from its current…
