HONG KONG : Hong Kong's economy contracted by 4.2 per cent in the fourth quarter from a year earlier, advance government data showed on Wednesday, shrinking for the fourth consecutive quarter as exports were hampered by weak global demand.Economists from Morgan Stanley, DBS, Hang Seng Bank and Natixis exp
HONG KONG : Hong Kong's economy contracted by 4.2 per cent in the fourth quarter from a year earlier, advance government data showed on Wednesday, shrinking for the fourth consecutive quarter as exports were hampered by weak global demand.
Economists from Morgan Stanley, DBS, Hang Seng Bank and Natixis expected GDP to contract between 2.8 per cent and 3.1 per cent. The city's economy shrank a revised 4.6 per cent in the third quarter.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong's Exchange Fund records HK$202.4 billion 2022 investment loss, outlook uncertainHONG KONG : Hong Kong's Exchange Fund, which is used to back the Hong Kong dollar, reported an investment loss of HK$202.4 billion ($25.8 billion) in 2022, the Hong Kong Monetary Authority (HKMA) said on Monday, the worst ever on record in value terms.In 2021, the exchange fund recorded adjusted investmen
Read more »
Hong Kong spends $4.4b on temporary homes to ease crisis, long waitsHong Kong aims to cut the waiting for public housing to 4.5 years from 5.6 years with the initiative. Read more at straitstimes.com.
Read more »
Pakho Chau Slammed By Hong Kong Netizens For Using Simplified Chinese In Facebook PostHong Kong uses Traditional Chinese and the Mainland Simplified Chinese.
Read more »
Hong Kong’s John Lee rebuffs calls for inquiry into Covid-19 pandemic handlingUnder local legislation, only the city’s leader has the power to set up a Commission of Inquiry. Read more at straitstimes.com.
Read more »
Hong Kong's negative equity mortgage cases surge to near 18-yr highHONG KONG : Cases of negative equity in Hong Kong's residential mortgage loans jumped nearly 22 fold in the fourth quarter from the previous one, the city’s de facto central bank said, as home prices continued to fall during the period. The Hong Kong Monetary Authority assured the market that the risks
Read more »
Hong Kong bans cannabis derivative, forcing businesses to shut or revampHONG KONG: Hong Kong on Wednesday (Feb 1) banned cannabidiol (CBD), a derivative of cannabis, as a “dangerous drug” and imposed harsh penalties for its possession, forcing fledging businesses to shut down or revamp. Supporters say that CBD - derived from the cannabis plant - can help relieve stress and
Read more »