On today's Money Talk; President Xi has praised #Shenzhen as an economic miracle & given it the task of leading growth & innovation across the GBA. He called upon young Hong Kongers to work, study & live in mainland #China to “revitalise” ‘one country, two systems.’
1/14 The #US State Department yesterday formally warned international financial institutions doing business with individuals deemed responsible for undermining #HongKong's autonomy that they could soon face sanctions.
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On today's Money Talk; The #IMF has warned that the #Covid19 health crisis will cause “lasting damage” to the global economy, which is now projected to contract by 4.4% in 2020. The Fund also cut its growth forecast for 2021 to 5.2%.
1/13 Imports into #China hit their highest dollar amount on record in September. The latest trade data showed imports surging by 13.2% to a record $203bn, massively beating forecasts of a rise of just 0.1%. Exports jumped by the most since March 2019, rising 9.9%.
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Some thoughts on how #HongKong financial markets could react in the coming weeks following the massive sell-off on Friday after the news that #China will impose national security law in HK.
1/23 The news caused a big decline in #HongKong stocks and the HK dollar on much bigger volume than usual.
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