Passers-by watch the Hang Seng Index in Hong Kong’s Central district. A broker says the 1997 Asian financial crisis was the worst period in the history of the city’s markets. Photo: Martin Chan 

Fear, tears and laughter in Hong Kong Monetary Authority’s 1997 currency war against hedge funds

Speculators led by George Soros forced city’s de facto central bank to crank interbank rate up to 280 per cent

Topic |   Currencies

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Passers-by watch the Hang Seng Index in Hong Kong’s Central district. A broker says the 1997 Asian financial crisis was the worst period in the history of the city’s markets. Photo: Martin Chan 
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