S&P stands by its Hong Kong rating despite turmoil - Bloomberg

Dhwani Mehta FXStreet

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.

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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