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  1. Comment - Letters

    Hong Kong not gaining from peg

    Posted May 06th 2013, 12:00am by LETTERS

    ... Peg is wiping out productivity gains of diligent middle class The Hong Kong dollar is pegged to the US dollar by a currency board. This obsolete arrangement is also used by other economies such as Bermuda, Antigua and Barbuda, and the Cayman Islands. The peg increases inflation, due to our inability to adjust the upward strength of the Hong Kong dollar. Whatever labour productivity gains ...

  2. Business - Comment - MONITOR

    'Made in America' means added pain for Hong Kong

    Posted May 02nd 2013, 12:00am by Tom Holland

    ... added pain for Hong Kong For the past 10 years, Hong Kong's economy has been boosted by twin external superchargers. Now, both are in danger of breaking down. Part of the performance boost over recent years was provided by the rapid growth of China, which yielded a bonanza for the city's financial, trade services and retail sectors. But Hong Kong also got a propellant charge ...

  3. Business - Economy - CURRENCIES

    Pegging Hong Kong dollar against yuan 'could take years'

    Posted Apr 30th 2013, 12:00am by KANIS LI

    ... not come for years' The yuan will eventually be a feasible currency for Hong Kong to peg its dollar against, in place of the US dollar, said John Greenwood, known as the "father of the Hong Kong-dollar peg". However, Greenwood said, the yuan must be fully convertible and widely used before that day comes, which could take "many years". The chief economist ...

  4. Comment - Letters

    Officials caused property crisis

    Posted Mar 09th 2013, 12:00am by LETTERS

    ... Government policies helped developers, but not HK citizens Repeated interventions in the Hong Kong property market by officials, particularly former chief executive Donald Tsang Yam-kuen and Financial Secretary John Tsang Chun-wah, have caused havoc for ordinary Hong Kong citizens. First, Donald Tsang curtailed land supplies and instituted the land application system which favoured ...

  5. Business - Money - INVESTMENT

    Exchange Fund looks to yuan, emerging markets

    Posted Jan 15th 2013, 12:00am by Enoch Yiu

    ... to yuan, emerging markets The city's Exchange Fund, which had its second-best investment gain on record in 2012, will invest more in yuan-denominated bonds and shares this year. The Hong Kong Monetary Authority (HKMA) uses the fund, which has HK$2.782 trillion in assets, to ensure the stability of the Hong Kong dollar. The fund reported investment earnings of HK$108.6 billion last year, ...

  6. Business - Comment - JAKE'S VIEW

    HKMA prays for deliverance from loose money

    Posted Jan 08th 2013, 12:00am by Jake Van Der Kamp

    ... Jake van der Kamp With the HK dollar's currency peg under strain, the Hong Kong Monetary Authority must be hoping for an end to US quantitative easing HKMA prays for deliverance from loose money If they are not quite down on their knees at the Hong Kong Monetary Authority (HKMA), there is a least a silent prayer emanating from that tall office block with the set of roof ...

  7. Business - Money - ECONOMY

    Cash dam reopened to flush out hot money

    Posted Dec 22nd 2012, 12:00am by Eric Ng

    ... hot money The city's de facto central bank again sold down the Hong Kong dollar yesterday to maintain the currency peg to the US dollar as so-called hot money continued to pour in. In the latest intervention, the Hong Kong Monetary Authority (HKMA) sold HK$5.04 billion of Hong Kong dollars in exchange for foreign currencies, to keep the Hong Kong dollar from strengthening past ...

  8. Business - Economy - ECONOMY

    Latest US easing prompts HKMA inflation warning

    Posted Dec 14th 2012, 12:00am by Peggy Sito

    ... warning The latest round of US monetary easing has put Hong Kong's de facto central bank on high alert over the outlook for inflation as the prospect of more speculative money finds its way into the city's economy. The Hong Kong Monetary Authority warned investors about potential rising investment risks amid what it called an "abnormal" economic environment. As widely expected, ...

  9. Business - Money - CURRENCY

    HKMA in HK$12 billion currency cooling measure

    Posted Dec 12th 2012, 12:00am by PAGGIE LEUNG AND ENOCH YIU

    ... Kong Monetary Authority stepped into the currency market again yesterday to weaken the Hong Kong dollar as the rush of "hot money" continues to flow into the city. The de facto central bank intervened twice, selling a total of HK$12.013 billion in Hong Kong dollars, in a move to maintain the exchange rate within its official limits. The latest intervention increased Hong ...

  10. Business - Economy - MARKETS

    Hot money inflow may rock markets, warns HKMA's Norman Chan

    Posted Dec 11th 2012, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Investors warned of 'highly abnormal' climate and urged to exercise caution in case of swing HKMA chief: hot money inflow may burn market Hong Kong ... billion by selling the same amount of Hong Kong dollars since mid-October, Chan said on the sidelines of an economic forum. The authority's move was aimed at weakening the local currency. ...




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