The economy has always been inseparable from politic, and recently Hong Kong investors have suffered from both internally and internationally politic.
The sentiment on Sino-US trade wars are mixed
Chinese President Xi Jinping said he did not want a decoupling from Washington and doubted his ‘friend’ Donald Trump did either. On the other hand, Trump said if Xi Jinping did not go to the G20 summit, he would raise the tariff immediately, but then thereafter announced that he was going to meet with Xi Jinping during the summit. It is worth mentioning that Huawei could be included in Sino-US trade negotiations.
Contentious Extradition Bill dividing Hong Kong
Last year, Taiwan Government asked Hong Kong Government 4 times for extraditing a suspect who allegedly murdered his pregnant girlfriend while on holiday in Taiwan. Nevertheless, HK Government did not reply. This year, the SAR government suddenly becomes proactive. Despite 1.03 Million people protested last Sunday. The second reading of the bill are resumed today and the Chairman of the LegCo set a deadline for passing the bill, which will be 20 June.
In recent months, many people have inquired about setting up offshore accounts or converting Hong Kong dollars into US dollars. However, “cash is king” fails to fight with inflation, so readers interested in holding the dollar may consider dollar-denominated money market funds. Most of these fund portfolios are mainly short-term deposits and debt securities.