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HK gov't calls for calm in stock market

08-10-2011 09:12 BJT Special Report:After S&P Downgrades U.S. Credit Rating |

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Hong Kong stocks continued to slide Tuesday but the SAR government there is sending a message to investors: don't panic.

Financial Secretary Tsang Chun-wah points out that Hong Kong dollar remains stable, bank operations are normal, and capital flow is adequate.

He says a new financial storm is unlikely despite the U.S. credit rating downgrading, but has a word of caution nonetheless. Investors should remain cautious.

Tsang said, "Investors have to be prudent. We will closely monitor market movements. Actually we have an urgent coordinating system which has been put into operation. We will keep watching the market, to see what adjustments are needed."

Financial Secretary Tsang Chun-wah points out that Hong Kong dollar remains stable, bank operations are normal, and capital flow is adequate.


A woman is reflected in a window as the Australian Stock market opens in Sydney, Tuesday,
Aug. 9, 2011. The U.S. stock market buckled Monday under the weight of a crisis
in Europe and danger of recession at home. (AP Photo/Rick Rycroft)


A currency trader watches monitors at the Korea Exchange Bank
headquarters in Seoul, South Korea, Tuesday, Aug. 9, 2011. Asian equity
markets were sharply down early Tuesday as investors fearing a possible
global economic slowdown continued to flee stocks.
(AP Photo/Ahn Young-joon)


Editor:Li Wanran |Source: CNTV.CN

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