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Hong Kong assets turn toxic as trade war, protests cloud outlook

Bloomberg
Bloomberg8/8/2019 08:00 AM GMT+08  • 4 min read
Hong Kong assets turn toxic as trade war, protests cloud outlook
SINGAPORE (Aug 12): Investor anxiety is visible just about everywhere in Hong Kong’s markets as recession warnings and escalating protests strain sentiment to breaking point.
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SINGAPORE (Aug 12): Investor anxiety is visible just about everywhere in Hong Kong’s markets as recession warnings and escalating protests strain sentiment to breaking point.

While most of the world recovered on Aug 6 from a renminbi-induced meltdown, Hong Kong saw the biggest spike in interbank rates in more than a decade, the longest stretch of equity declines since 1984 and the wildest stock swings in four years.

Bears reloaded on the local dollar in a way not seen since 2017, betting it will soon break through the weak end of its trading band.

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