PBOC’s Yi: Risks from property firms will not undermine Hong Kong’s capital market

Dhwani Mehta FXStreet

The People’s Bank of China (PBOC) Governor Yi Gang said on Thursday, the risks from a few property firms in the short-term will not undermine Hong Kong’s capital market.

“Rights of Evergrande shareholders and creditors will be fully respected,” Yi added.

The Governor offers conciliatory comments to soothe the markets, despite missed payments by Kaisa Group this week.

Market reaction

USD/CNY is trading almost unchanged on the day at 6.3445, as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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