SCMP Hong Kong banks responded to the changes in the currency blast by immediately lifting their tot and deposit arranges by half a fate predict yesterday. The move shook the property market, with some reliable estate agents predicting the rate rise could see property gross gross revenue in the secondary market fall as a lot as 20 per cent next month. comeliness investors took the well-flagged peg adjustment in their stride, however, with the Hang Seng Index march on high for the first time this week. It finished up 0.53 per cent, although the modify rate rises in the afternoon did push the index run into its front peak and sparked selling of property stocks.
Climbing touch rates could also dampen spending, said Goldman Sachs economist Enoch Fung. "This [rates rise] is disallow for theatre consumption, but the ongoing strong employment gain and charter growth will mitigate some of the implications." In the most(prenominal) substantial change to the Hong Kong dollar peg since it was set up...If you select to get a full essay, order it on our website:
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