Markets

Hong Kong enters its first recession in a decade after months of protests

Hong Kong officially entered its first recession since the financial crisis after posting a 3.2% GDP contraction in the third quarter. The economic slowdown is primarily driven by antigovernment protests that dominated the July-to-September period. The demonstrations have hit the city’s business owners, tourism industry, and investors. The demonstrations have […]
Hong Kong enters its first recession in a decade after months of protests
Markets

Fitch slashes Hong Kong’s credit rating as months of protests have inflicted ‘long-lasting damage’ on its financial system

Fitch Ratings downgraded Hong Kong’s credit status on Friday after months of protests have brought into question the city’s “one country, two systems” framework. Fitch lowered the city’s rating to a ‘AA’ from a ‘AA+’ citing the weakening stability of Hong Kong’s business environment. The protests began several months ago […]
Fitch slashes Hong Kong’s credit rating as months of protests have inflicted ‘long-lasting damage’ on its financial system