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 From Hong Kong's Information Services Department
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August 10, 2007
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Finance

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HK coping with market volatility
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Given its sound economic fundamentals, the Government is confident Hong Kong's financial systems can cope with recent market volatility. The Government and all regulatory bodies will continue to monitor the market closely.

 

In response to media enquiries today, the Financial Services & the Treasury Bureau said external factors like the performance of global markets affected by the US sub-prime mortgage problem have increased volatility in Hong Kong's stock market. However, Hong Kong can cope with the situation, it said.

 

Due to the hoisting of Typhoon Signal No.8, Hong Kong Exchanges & Clearing stopped trading in the securities and derivatives markets at 2:45pm. At market close the Hang Seng Index dropped 646 points (-2.88%) to 21,792.