Statement by Norman T.L. Chan Chief Executive of the Hong Kong Monetary Authority to the media on 24 June 2016

The financial markets have reacted immediately to the outcome of the Brexit Referendum, with notable volatilities in the exchange rate of the British Pound and the Japanese Yen.  Stock markets in Asia, including Hong Kong, have seen significant selling pressure.

In Hong Kong, Hong Kong Dollar exchange rate and interest rates remain stable.  The CNH market has also functioned smoothly throughout the day.

I should reiterate that the Hong Kong banking system is highly liquid.  And our financial system is robust and resilient, and is able to withstand possible market shocks from different sources.

In the months ahead, the UK will negotiate with Brussels the arrangements for leaving the EU.  The outcome is highly unpredictable, and will lead to great uncertainties.  Hong Kong people should stand ready to cope with continued market volatilities and to manage their risks prudently.