Hong Kong’s Resilient Markets Just Knocked Down Another Big Test
- City’s stocks and dollar at epicenter of U.S.-China tensions
- Currency remains strong, shares supported by mainland flows
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If Hong Kong’s markets are any guide to its future as an international financial center, then the city’s investors have little to worry about.
That’s one way to read Wednesday’s strength in Hong Kong stocks and the local dollar even after the city’s currency peg became the latest battlefront for Beijing and Washington. There was little reaction in financial markets despite the escalating threat from the Trump administration: The Hong Kong dollar traded at the strong end of its band against the greenback and the Hang Seng Index closed 0.6% higher.