Top Hong Kong banker says dollar peg vital for stability
Add BT as a preferred sourceHong Kong
HONG Kong risks losing an important tool for maintaining its market stability if it scraps its currency's peg to the US dollar, said a top Standard Chartered China executive who also advises the government on financial policy.
The comments by Benjamin Hung, the bank's chief executive for Greater China, come amid speculation that Hong Kong's central bank may remove the peg after China's tumbling stock markets and the surprise devaluation of the yuan sent investors rushing to buy Hong Kong dollars last month.
TRENDING NOW
Xi Jinping has just rewritten the rules of US-China rivalry
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Trek 2000 shares jump 41.5% after Osim founder Ron Sim drops claims, sells 7.3% stake to Azure Capital
Germany, Spain push back on European plan to ban Huawei gear
