(ANSA) - BEIJING, SEPTEMBER 22 - The Hong Kong Stock Exchange (-2% at 18,081.19 points) falls to its lowest since December 2011 on the concerns linked to the rise in rates decided in the US with the expected repercussions on consumption and corporate profits, until the specter of the recession.
The Monetary Authority of the former colony raised rates by 75 basis points, to 3.5%, with immediate effect and in line with the measure adopted by the Fed, bringing the cost of money in the local market to the highest level since the 2008 financial crisis "There is a high probability that Hong Kong will experience negative GDP growth this year," cautioned Finance Secretary Paul Chan.
(HANDLE).
