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Hong Kong’s financial sector party turns into famine
Hong Kong’s financial sector party turns into famine
Hong Kong’s sluggish stock market embodies the challenges the city is grappling with: China’s economic slowdown, which appears increasingly structural, and Beijing’s tightening grip on the semi-autonomous city.
None of these problems seem likely to go away anytime soon, although China’s economy may improve in a slightly cyclical manner next year. Weak third quarter results released Friday by Hong Kong Stock Exchanges and Clearing– the owner and operator of the market – are the latest sign of the city’s deepening problems.
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