Lower income: Hong Kong 100 dollar banknotes are displayed at an exhibition in Hong Kong. Exchange Fund, which is used to back the Hong Kong dollar, posted a 55% drop in third quarter investment income from the previous quarter. — Reuters
HONG KONG: Hong Kong’s banking system is in strong shape and dollar peg does not need to change, the Hong Kong Monetary Authority (HKMA) said, dismissing rumours that months of often violent protests have undermined the city’s financial stability.
Hong Kong slid into recession for the first time in a decade in the third quarter amid protests against what is seen as Beijing’s tightening grip on the Asian financial centre.
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