Capital markets digest Hong Kong ‘death knell’

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By Morgan Davis
22 May 2020

Hong Kong’s equity markets took a hit on Friday and sentiment soured among bond investors over news that China is considering enacting the national security law in Hong Kong. Bankers have described the possible impact as everything from a “death knell” to a “flash point” for the special administrative region’s markets.

Hong Kong’s Hang Seng index fell around 5.6% on Friday. Chinese high yield dollar bonds were half a point lower on Friday morning. ECM and DCM bankers said that there was a clear sentiment change overnight.

The market turned after China’s state media announced on Thursday that ...

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