Hong Kong’s financial system remains resilient despite swirling tensions from U.S. tariffs escalation, according to HK Monetary Authority Deputy Chief Darryl Chan. While the city’s openness makes it vulnerable to global shocks, markets here are still "functioning normally"—proving once again why this financial hub never sleeps 🌆.
Chan described Washington’s latest trade moves as a lose-lose scenario: "Significant volatility in markets today, but the long-term damage to global economic ties will be far worse." His comments come as Asian stock indices rollercoaster 🎢 amid renewed U.S.-China trade friction.
💡 Insider Take: With over HK$47 trillion in assets under management (that’s roughly 13.5x Singapore’s GDP!), Hong Kong’s stability matters to every investor tracking Asian markets. The HKMA has "robust systems" to manage capital flows—think of it as a financial airbag 🚗 for turbulent times.
