Economy
GDP growth drops 8.9% YoY in Q1
This is due to the weak performance in both domestic and external demand.
GDP growth drops 8.9% YoY in Q1
This is due to the weak performance in both domestic and external demand.
Exports down 5.8% to $323.6b in March
Exports to India, Thailand and Singapore posted double-digit declines.
Singapore and Hong Kong will be the most impacted amidst pandemic: Moody's
Both markets are deemed export-dependent.
Almost half of senior managers expects business situation to be worse in Q2
Accomodation and food services worst hit amongst all sectors.
Inflation up 2.3% YoY in March: C&SD
This is attributed to the rents paid and waived by the government.
Hong Kong's currency-peg defense heightened to $4.34b
HKMA sold $2.79b (US$360m) of the city’s currency.
Total exports volume up 5.4% in February
Exports to Vietnam, Taiwan and China saw double-digit increases.
Hong Kong's leaders see combined income cut of 20% on virus
A portion of the income has been donated to a charity organisation.
Hong Kong may release more financial stimulus packages in 2020
Fiscal deficit of 9.5% of GDP to be expected this year due to additional spendings.
Hong Kong named 5th largest IPO market
Hong Kong IPOs remained resilient in Q1 2020.
Gross national income up 1.6% to $3.02t in 2019
Hong Kong recorded a net primary income inflow of $148.2b.
Hong Kong dollar scores best month since 2003 as local rates hold up
The HKD rose over 0.5% MoM in March.
Government to introduce second round of financial assistance
But SMEs could suffer from the new measures to control the COVID-19 outbreak. Hong Kong's government will introduce a second round of financial...
Lack of government support could turn Hong Kong's economy for the worse
Its $19b fiscal stimulus package might be too small and regressive, according to experts.
Exports down 22.9% in January
Double-digit declines were recorded in the USA, Japan, the Mainland and Taiwan.
Hong Kong, Singapore, Osaka hailed world's costliest cities for expats
Asian cities continue to have the most expensive groceries.
Hong Kong lags Singapore as freest economy in the world
Free economies are said to enjoy incomes more than double the global average.
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