HK dollar to trade firmer versus greenback

Business | 29 Jun 2020 5:19 pm

The Hong Kong dollar will trade at a small premium to the US dollar, remaining close to the strong side of the currency peg, thanks to relatively higher interest rates and busy initial public offering pipeline in the city, said Andrew Ng Wai-hung, group executive and head of treasury and markets at DBS.

But he does not expect the aggregate balance will rise as much as it was after the 2008 financial crisis.

Ng believes the currency peg will not change for a decade and does not see significant capital outflow.

He projects the Hang Seng Index will trade within 23,000 and 27,000 points this year.

He is positive on the planned cross-boundary wealth management connect, adding DBS is expanding the team working to capture Greater Bay Area investment opportunities, and is awaiting regulatory approval to set up a mainland securities joint venture.

 

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