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China’s yuan exchange rate drop could roil already strained Hong Kong-protest hit economy

Hong Kong’s economy, already straining under the weight of anti-government protests as well as the US-China trade war, is now set to feel the pressure of a weaker Chinese yuan.Retailers, restaurants, hotels and real property agents will be the first to feel the impact after the Chinese currency fell below the key level of 7 to the US dollar last week for the first time in 11 years. It is set to depreciate further, and with the Hong Kong dollar pegged to the US dollar, it makes visiting the city……

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Hang Seng Index drops to lowest level since January as a second day of disruptions at Hong Kong’s airport roil sentiments

Hong Kong’s benchmark stock index plunged to its lowest level since January, as weak corporate earnings resulting from the year-long US-China trade war took their toll, while a second day of disruptions at the city’s airport weighed on sentiments.The Hang Seng Index closed 2.1 per cent down at 25,291.28, hitting its lowest level since January 3. Smartphone parts maker Sunny Optical Technology was the sole gainer out of the 50 component stocks on the index, closing 0.5 per cent higher at HK$86… Source link

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Stocks Blog: Overnight US bloodbath threatens to roil Hong Kong, China markets

Hold onto your swimming trunks, traders. The tariff tsunami continues. Overnight, the Dow Jones Industrial Average plummeted more than 600 points, after China retaliated against the latest round of US tariffs on Chinese goods. That followed broad declines in Chinese equities on Monday. Hong Kong could take a hammering as it resumes trading today after a holiday. It’s going to be another wild day. And we’ll keep you up on the most important moves in the Hong Kong and mainland markets. –… Source link

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