Hang Seng Index (HSI)
The HKD is still under tremendous stress as it can be seen from the statistics above which show that the HKD is still near the HKMA intervention rate of HKD$7.85. This stress is prompting the HKMA to raise the interest rate to reduce the Hibor-Libor spread. We can also detect the stress in the HSI because it has been trending down from more than 32,000 to around 29,000 as the fear of collateral damages from the higher interest rate sets in.
https://sg-stock.blogspot.com/2018/03/danger-is-lurking-for-hong-kong-stock.html
https://www.bloombergquint.com/markets/2018/08/15/hkma-intervenes-to-defend-currency-peg-for-first-time-since-may
ReplyDeleteThe HKMA has intervened in the currency market again to support the HKD.
https://sg.finance.yahoo.com/news/hong-kong-spends-2bn-defend-currency-peg-071333501--finance.html
ReplyDeleteThe HKMA is running low on reserves to support the HKD.
https://finance.yahoo.com/news/hong-kong-intervenes-again-defend-002204583.html
ReplyDeleteHKMA intervenes again.
https://www.bloombergquint.com/global-economics/2018/08/28/hong-kong-intervenes-to-defend-peg-for-fourth-time-this-month#gs.AoTWmqk
ReplyDeleteHKMA intervenes 4th time in August 2018.