Fitch: Signal from US of possible change in its policy towards Hong Kong to heighten uncertainty
by Dhwani MehtaAccording to the latest report published by Fitch ratings on Friday, a signal from the US of a possible change in its long-standing policy towards Hong Kong may also heighten uncertainty and dampen investor sentiment.
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“Hong Kong banks' operating environment outlook negative.”
“Ongoing economic shock will heighten challenges facing Hong Kong banks in an already highly competitive landscape.”
“Expect Hong Kong’s economy to contract by 5% in 2020, in large part due to significant dampening effect pandemic has had.”
“Forecast GDP growth will recover to 3.5% in 2021, alongside an expected rebound in global activity.”