BRIEF-Fitch Ratings Says Hong Kong's Role In Global Finance Intact Despite Unrest

by Reuters
Thursday, 12 December 2019 04:40 GMT

Dec 11 (Reuters) - Fitch:

* HONG KONG'S ROLE IN GLOBAL FINANCE INTACT DESPITE UNREST

* THERE IS LITTLE EVIDENCE SO FAR THAT SOCIAL UNREST IN HONG KONG HAS ADVERSELY AFFECTED ITS ROLE AS A GLOBAL FINANCIAL CENTRE

* CONTINUED TURMOIL IS UNDERMINING PERCEPTIONS OF HONG KONG AS A STABLE INTERNATIONAL BUSINESS HUB AS WELL AS EFFECTIVENESS OF ITS GOVERNANCE

* HONG KONG'S SHORT-TERM ECONOMIC OUTLOOK CONTINUES TO DETERIORATE

* HONG KONG GROWTH IN 2020 COULD IMPROVE SLIGHTLY, SUPPORTED BY HKD25 BILLION OF FISCAL RELIEF MEASURES (0.9% OF GDP) ANNOUNCED SINCE MID-AUGUST

* EXPECTS HONG KONG ECONOMY TO SHRINK BY 1.5% IN 2019

* INTERNATIONAL PERCEPTIONS OF INTRINSIC STRENGTHS OF HONG KONG'S BUSINESS ENVIRONMENT ARE STILL AT RISK; COULD EVENTUALLY WEAKEN ITS STATUS

* ALIBABA'S RECENT LISTING ON HONG KONG STOCK EXCHANGE UNDERSCORES TERRITORY'S ROLE AS FLAGSHIP OFF-SHORE FINANCING CENTRE FOR CHINESE FIRMS

* WEAKER PERCEPTIONS OF GOVERNANCE IN HONG KONG COULD AFFECT RATING DIRECTLY Source text for Eikon:

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