S&P stands by its Hong Kong rating despite turmoil - Bloomberg
|While speaking to Bloomberg, Kim Eng Tan, Senior Director of sovereign ratings at the ratings firm, S&P Global Ratings, Hong Kong's unique access to mainland China will keep the city as an Asian financial hub and its credit rating intact despite ongoing protests.
Additional Quotes:
“Hong Kong has "much better access" to China's mainland market compared to any other country and this advantage will not go away in the wake of the protests.”
“Don’t expect many of the demands of the protesters to be met by the Hong Kong government given that any change would be subject to approval by China.”
The news have a negligible impact on the market sentiment, as most majors stick to thin trading ranges amid a lack of clarity on the US-China trade front and ahead of key global manufacturing PMI reports.
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