Hong Kong becomes world’s must-watch market

Portfolio outflows: A visitor sets up his camera at the Victoria Peak area in Hong Kong. Although the city has a US$466bil (RM2 trillion) foreign-reserves stockpile, signs of financial stress are building.—AP

FOR global investors trying to the gauge the fallout from surging interest rates and slowing economic growth, Hong Kong is quickly emerging as a must-watch market.

Perhaps nowhere else is as exposed to two of the biggest worries roiling global asset prices – the Federal Reserve’s (Fed) rapidly tightening monetary policy and China’s sputtering economy.