News Formal

HK’s role in global finance intact despite social unrest: Fitch

  • 📰 thenewpaper
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

South Africa News News

BENGALURU: Hong Kong's role in global finance is intact, with little evidence to suggest social unrest in the city has adversely impacted that role, global credit rating agency Fitch Ratings said yesterday. However, it added that the prolonged protests are undermining...

BENGALURU: Hong Kong's role in global finance is intact, with little evidence to suggest social unrest in the city has adversely impacted that role, global credit rating agency Fitch Ratings said yesterday.

However, it added that the prolonged protests are undermining perceptions that Hong Kong is a stable international business hub and that a weaker view of its governance could impact its credit rating directly.In September, Fitch had downgraded Hong Kong's long-term foreign currency issuer default rating to AA from AA+ following months of protests.

It said yesterday that while Hong Kong's short-term outlook continues to deteriorate, the medium-term prospects seem more positive. The economy has sunk into its first recession in a decade, with businesses under pressure from the protests and protracted US-China trade war.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong's role in global finance remains intact despite months of protests: FitchBENGALURU (REUTERS) - Hong Kong's role in global finance is intact, with little evidence to suggest recent protests and social unrest in the city have adversely impacted that role, global credit rating agency Fitch Ratings said on Thursday (Dec 12).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Hong Kong's role in global finance remains intact despite months of protests: FitchBENGALURU (REUTERS) - Hong Kong's role in global finance is intact, with little evidence to suggest recent protests and social unrest in the city have adversely impacted that role, global credit rating agency Fitch Ratings said on Thursday (Dec 12).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Oil market to remain oversupplied despite OPEC+ pact, says IEAGlobal oil inventories could rise sharply despite an agreement by OPEC and its allies to deepen output cuts as well as lower expected production ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

C&G EP requests Finance Minister to allow it to stay listedC&G EP requests Finance Minister to allow it to stay listed.
Source: BusinessTimes - 🏆 15. / 51 Read more »