Hong Kong stocks fell as much as 3% on Friday as the surge in US yields impacted the territory through the HKD peg mechanism. Mainland Chinese markets were closed during this period of heightened tension. This situation puts Hong Kong at the forefront of the consequences of US monetary tightening. The Hong Kong dollar’s fixed exchange rate mechanism amplifies the effects of rising US interest rates on the local economy.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
