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Paul Chan: US-Iran Conflict May Send Shockwaves to Financial Markets in ST; Limited Direct Impact on HK
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Hong Kong's Financial Secretary Paul Chan stated that the US-Iran conflict may send shockwaves to financial markets in near term, but its direct impact on Hong Kong is limited. The government will closely monitor the effects on sectors such as shipping when making policy, and maintain close contact with affected industries. He mentioned that the repercussion of the war on freight rates will need to be observed for several months before it becomes clear, emphasizing that the government can introduce various measures to respond. For export companies that are more prone to the conflict, the government has consistently provided policy support such as government-guaranteed loans and support through the Hong Kong Export Credit Insurance Corporation (HKECIC) to explore emerging MENA markets. AASTOCKS Financial News Website: www.aastocks.com |
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