Dec 7, 2009
Asset bubble concerns HK
HONG KONG - HONG Kong's government is 'very concerned' about the risk of an asset bubble developing although a bubble is not apparent yet, Financial Secretary John Tsang told legislators on Monday.
Property prices in the city have surged 30 per cent this year, and price gains for luxury property have topped 40 percent, as the city has attracted excess global liquidity and wealthy mainland Chinese have been snapping up luxury apartments.
Mr Tsang said the financial system was sound and the city could cope with capital inflows and outflows but echoed other city officials who have warned about the risk of an asset bubble developing.
'We are very concerned about the risk of an asset bubble,' Mr Tsang said. 'The risk is there but it is not very apparent.' -- REUTERS
Tuesday, December 8, 2009
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To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
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