A file photo shows the lunchtime closing for the Hang Seng Index on August 19, 1998, as pedestrians pass near a display screen at a local bank. Hong Kong stocks soared 4.2 per cent in morning trade on rumours of continued Hong Kong government intervention to prop up the stock market. Photo: AFP A file photo shows the lunchtime closing for the Hang Seng Index on August 19, 1998, as pedestrians pass near a display screen at a local bank. Hong Kong stocks soared 4.2 per cent in morning trade on rumours of continued Hong Kong government intervention to prop up the stock market. Photo: AFP
A file photo shows the lunchtime closing for the Hang Seng Index on August 19, 1998, as pedestrians pass near a display screen at a local bank. Hong Kong stocks soared 4.2 per cent in morning trade on rumours of continued Hong Kong government intervention to prop up the stock market. Photo: AFP
Yuan
Business /  Companies

Back to 1997? Why Chinese yuan and Hong Kong property prices may go down by a fifth next year

CLSA says China will end its currency’s unofficial peg to the US dollar, unleashing widespread market havoc

Topic |   Yuan
Xie Yu
Xie Yu

Updated: 11:51am, 27 Jun, 2016

Why you can trust SCMP
A file photo shows the lunchtime closing for the Hang Seng Index on August 19, 1998, as pedestrians pass near a display screen at a local bank. Hong Kong stocks soared 4.2 per cent in morning trade on rumours of continued Hong Kong government intervention to prop up the stock market. Photo: AFP A file photo shows the lunchtime closing for the Hang Seng Index on August 19, 1998, as pedestrians pass near a display screen at a local bank. Hong Kong stocks soared 4.2 per cent in morning trade on rumours of continued Hong Kong government intervention to prop up the stock market. Photo: AFP
A file photo shows the lunchtime closing for the Hang Seng Index on August 19, 1998, as pedestrians pass near a display screen at a local bank. Hong Kong stocks soared 4.2 per cent in morning trade on rumours of continued Hong Kong government intervention to prop up the stock market. Photo: AFP
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