The devaluation of the RMB, the U. S. Federal Reserve Shengxi (FED) dual pressure clip kill under, today (20), HK again break at the end of, fell to its lowest level since 2007, the impact, Hong Kong's Hang Seng Index also subsequently fell.
Harvest XQ winner in the world quotation system show that the 20 Hong Kong dollars once relegated to 7.8228 against the $1, the lowest level since 2007; so far this year depreciation of 0.88. At 15:45 on the 20 day, the Hang Seng Index fell 3.55, at 18938.56 points, has plummeted more than 13 this year.
Baron (Barron, s) financial website reported that Hong Kong dollar peg recovery. Hongkong gold tube bureau, the Hong Kong dollar against the U.S. dollar trading range between 7.75 to 7.85, if below this interval, the HKMA will come forward to resist. Now Hong Kong dollar fell to 7.8228 from 7.85, only one step away, on behalf of the HKMA shot to support the market sooner or later. Goldman Sachs report said, FED rising interest rates, Hongkong is facing the pressure of capital flight, the Hong Kong dollar devaluation, approaching the lower limit of the exchange rate. Goldman Sachs estimates that the HKMA may have hit HK $300 billion ($32 billion 800 million), up hk.
The financial times (FT) reported that the U.S. interest rates, currency devaluation also let people feel the pressure of hk. People money parties have been looking down, dragged down by Hong Kong, also was bearish. Some people believed that the renminbi mad demoted under, the implementation of the 30 years of the linked exchange rate, will be forced to shut down, Hong Kong dollars and dollar peg.
However, at present, few analysts believe that the linked exchange rate will collapse. HK dollar exchange rate system is extremely stable, weathering the crisis of SARS in the 1997 handover, 2002, the global financial tsunami in 2008, this time may also be able to survive the storm.
Wall Street informative 20 daily guide, Thailand securities analyst Liu Qiyuan suggested that Hong Kong has accumulated a lot of depreciation. According to the world's major currencies relative to the dollar's depreciation rate and inflation relationship, the reasonable price of HK $10.7~11.6 to $1, the current price of nearly 30 devaluation pressure. In addition, the next year there is a 10 dollar appreciation of space, which will increase the pressure on the depreciation of the Hong Kong dollar.
But Barron previously reported, Credit Suisse released a research report pointed out that the Hong Kong dollar not as to decoupling, China and Hong Kong authorities certainly not at this juncture change in Hong Kong has been in use for a long time the monetary system, pressure increase of capital flight. Also foreign exchange reserves in Hong Kong currently has $359 billion, 1.75 times the money supply, coupled with the Chinese government to provide timely assistance, so sufficient firepower to defend the linked exchange rate system.