SEA CHANGE: HONG KONG TRIMS YUAN HOLDINGS

10/23/08 12:33PM EDT
History and geography have always led Hong Kong’s merchants to be pragmatic traders. Invasion, colonial rule, war and natural disasters have been reoccurring themes over the course of five centuries of almost uninterrupted trade on the Island. This trade resilience is a testament to remarkable timing skill.

The most recent figures released by the special district’s monetary authority suggest that -ever pragmatic, Hong Kong’s residents have been limiting their additions in Yuan holdings as the currency begins to slow in trajectory due to intervention and the cooling of global growth expectations.

Andrew Barber
Director
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