HKMA: Yuan rise could boost HK assets

    Updated: 2010-06-16 06:55

    (HK Edition)

      Print Mail Large Medium  Small 分享按鈕 0

     HKMA: Yuan rise could boost HK assets

    100-yuan banknotes are displayed in Beijing last year. The HKMA said this week the appreciation of the yuan could boost Hong Kong's yuan-denominated assets. Nelson Ching / Bloomberg News

    The Hong Kong Monetary Authority (HKMA), the city's de facto central bank, said local stock and property prices may rise further once the Central Government allows its currency to resume gains, thereby boosting mainland investors' appetite for assets in the city.

    "A substantial appreciation of the yuan would support asset prices in Hong Kong," the HKMA said in its June Quarterly Bulletin.

    Expectations of a gain "may suffice to pull capital into Hong Kong," the HKMA said in the report published on its website this week.

    However, further inflows of mainland money into the city may complicate the Hong Kong government's efforts to cool home prices, which have risen 41 percent since the end of 2008.

    Earlier this month, Sun Hung Kai Properties Ltd, the world's biggest developer by market value, paid HK$10.9 billion, or HK$12,540 per square foot, for a residential site at a public auction in Hong Kong, the highest price since the city's property market peaked in 1997.

    Expectations for yuan appreciation have been rising after US Treasury Secretary Timothy F. Geithner said last week that China should allow more flexibility in managing the yuan. Meanwhile, the country's latest loan, inflation and export data have also fueled speculation that gains in the yuan may be allowed soon.

    China's export in May surged by nearly 50 percent and the monthly trade surplus reached $19.5 billion, beating most analysts' forecast. Strong export momentum reignited talks of the country reforming its foreign exchange regime.

    The impact on consumer inflation due to higher import costs will likely be "modest", the HKMA report said, adding that the impact on asset prices "could be more significant."

    Figures from the Hong Kong SAR government show that the composite consumer price index has been above 2 percent in the first half of 2010, while the number was negative in mid-2009. During the same period, the benchmark Hang Seng Index largely remained above 20,000, reaching as high as 24,000.

    The HKMA cited research suggesting a 10 percent gain in the yuan against the Hong Kong dollar would add 0.4 to 0.6 percentage points to the city's inflation rate. Gains in the yuan against the dollar will similarly influence the Hong Kong dollar, as the latter is pegged to the dollar.

    No data were given regarding the possible impact on asset values, but "Hong Kong's equity and property markets might benefit from increased potential buyers on the mainland," the HKMA said.

    China Daily-Bloomberg News

    (HK Edition 06/16/2010 page3)

    国99精品无码一区二区三区 | 中文无码伦av中文字幕| 国产精品无码a∨精品| 无码H黄肉动漫在线观看网站| 亚洲人成无码久久电影网站| 无码国内精品人妻少妇蜜桃视频| 日韩精品一区二三区中文| 亚洲午夜无码片在线观看影院猛| 亚洲A∨无码一区二区三区| 最近中文字幕免费mv在线视频| 亚洲AV无码一区二区三区在线观看 | 久久亚洲精品无码aⅴ大香 | 最好看最新的中文字幕免费| 午夜成人无码福利免费视频| 国产精品无码专区| 亚洲AV无码专区亚洲AV伊甸园| 天堂а√在线地址中文在线| 超清无码无卡中文字幕| 99在线精品国自产拍中文字幕| 999久久久无码国产精品| 久久亚洲精品成人av无码网站| 亚洲桃色AV无码| 一本加勒比HEZYO无码人妻| 人妻丰满熟妇AV无码区HD| 亚洲欧美成人久久综合中文网| 亚洲欧美日韩中文字幕一区二区| 最好看的2018中文在线观看| 亚洲AV中文无码乱人伦| 中文国产成人精品久久亚洲精品AⅤ无码精品 | 久久久久亚洲Av无码专| 无码中文字幕av免费放dvd| 亚洲精品无码永久在线观看你懂的| 久久亚洲日韩看片无码| 国产色综合久久无码有码| 八戒理论片午影院无码爱恋| 中出人妻中文字幕无码 | 人妻夜夜添夜夜无码AV| 国产在线拍偷自揄拍无码| 国产a v无码专区亚洲av| 蜜桃视频无码区在线观看| 亚洲无码视频在线|