Is Hong Kong Losing Its Luster for Global Investors?
- Stock selloff and Hong Kong dollar pressure unnerve investors
- "Hong Kong is facing a wave of pressure," says one economist
China Stocks Decline to 13-Month Lows
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As a premier Asian financial center parked at the doorstep of one of the fastest-growing economies on the planet, Hong Kong has long lived a charmed life.
The former British colony’s Western-style legal and regulatory system made it a magnet for global investors interested in buying listed Chinese stocks on the Hong Kong Stock Exchange. Its banks, insurance companies, ports and cargo carriers have made a nice living off their powerful neighbor. An added bonus: Since 2008, low global interest rates in the post-financial crisis era have powered a property market that has kept the $300 billion economy humming.