Hong Kong’s financial markets remain stable and orderly despite recent volatility triggered by US tariff measures, according to a official at the Hong Kong Monetary Authority.
Darryl Chan Wai-man, deputy chief executive of the HKMA, said that while the trade tensions have sparked fluctuations in financial markets, the city’s overall market operations continue to function normally.
“Hong Kong dollar liquidity remains abundant,” he noted, adding that the local currency has even strengthened slightly against the US dollar recently, partly due to risk-averse fund flows into the Hong Kong dollar.
Chan emphasized that stability is the top priority for the city’s financial system. He highlighted that Hong Kong bank deposits rose 7.1 percent year-on-year in 2023 and have continued to climb in the first few months of this year.
On the equity front, Chan acknowledged that recent US tariff developments have caused some market volatility, but trading remains orderly. He said there have been no signs of irregularities in the derivatives market, and banking operations and financing activities are proceeding as usual.
Chan expects that the global trade supply chain is likely to undergo restructuring, and Hong Kong must adapt to the shift. He noted that the city’s financial sector can play a key role in seizing new opportunities amid the evolving landscape.
STAFF REPORTER
