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Paul Chan: Middle Eastern Funds May Flow into HK to Avert Risk
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Hong Kong has limited direct trade and investment with Iran, but the ongoing warfare in the Middle East wreaks significant global uncertainty, which is expected to send shockwaves to financial markets, Financial Secretary Paul Chan earlier stated on a television program, while emphasizing that the government has adequate contingency plans on table to respond. Chan estimated that due to the impact of the Middle Eastern warfare, financial market volatility is relatively high. Capital flows may shift more rapidly with uncertainties, and Middle Eastern funds may seek a "safe haven" in Hong Kong. The HKSAR government must be well-prepared and handle financial risks cautiously, with sufficient contingency plans already in place. AASTOCKS Financial News Website: www.aastocks.com |
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