HONG KONG (BLOOMBERG) - Moody's Investors Service lowered Hong Kong's rating as a long-term issuer of debt by one notch, just months after Fitch Ratings took a similar action amid political protests.. Read more at straitstimes.com.
HONG KONG - Moody's Investors Service lowered Hong Kong's rating as a long-term issuer of debt by one notch, just months after Fitch Ratings took a similar action amid political protests.
Hong Kong has been rocked by pro-democracy protests and clashes between demonstrators and the police which have broken out regularly since June. The economy contracted sharply in the third quarter, pushing the city into a recession, as the often-violent clashes led to a plunge in the number of tourists, hurt consumption, and disrupted business operations.
Banks in Hong Kong are"well-cushioned given their strong capital base, sound liquidity and healthy asset quality", while initial public offerings and bond financing activities continue despite the unrest, the spokesman added.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong: Stocks open lower on MondayHongKong: Stocks open lower on Monday
Read more »
Hong Kong: Stocks close lowerRead more at The Business Times.
Read more »
Toy Story: Hong Kong protest models become major hitIntricately detailed Hong Kong protester figurines have become the latest must-have collectables as toy stores recreate the pro-democracy movement's street battles with police in their shop displays. Stacked on shelves next to comic book superheroes, the models come in a variety of shapes and sizes
Read more »
Police arrest organiser of Hong Kong protest after rally turns violentA prominent Hong Kong pro-democracy activist was arrested by police, his organisation said on Monday, after a protest he helped organise in the financial district a day earlier turned violent with officers firing tear gas to disperse the crowds. Ventus Lau was arrested on Sunday evening on charges of
Read more »
Moody's downgrades Hong Kong, blames government response to protestsHong Kong's reputation as a global business hub was dealt a fresh blow Monday after Moody's downgraded a key rating, blaming a lack of government ...
Read more »
Police arrest organiser of Hong Kong protest after rally turns violentHONG KONG: A prominent Hong Kong activist was arrested by police, his organisation said on Monday (Jan 20), after a protest he helped organise in ...
Read more »