Hong Kong Protests May Affect Investor Sentiment
by Mary Swire, Lowtax.net, Hong Kong
28 October, 2014
Hong Kong Financial Secretary John Tsang has admitted that Hong Kong's economy will be affected if the protests concerning the city's electoral process continue, despite the fact that its stock market, foreign exchange market, and financial system are, presently, still functioning normally.
Upon his return from the Asia-Pacific Economic Co-operation Finance Ministers' Meeting in Beijing on October 23, Tsang said the impact of the movement can be evaluated by economic statistics available later, and noted that foreign investors are watching the situation.
The Secretary for Financial Services and the Treasury, K C Chan, went further on October 24, adding that "the 'Occupy Central' movement has caused considerable disruption to the economy. I am very concerned that the overseas investors are questioning the [future] stability of the financial market, given what's going on in the streets."
"I don't want to overplay this worry," he added, "but indeed there are some investors who are asking these questions. Currently, it's not affecting the market per se, but we should be really concerned if the situation does not improve and leads to more investors questioning the situation in Hong Kong."
See all of today's news