Chief Executive of HKMA’s response on US presidential election results

In response to media enquiries, the Chief Executive of the HKMA, Mr Norman Chan gives the following statement:

“The US presidential election results have surprised the market and as a result I observed significant volatilities in the global equity and foreign exchange markets today.

Despite market volatilities globally, HKD and CNH have remained stable in both exchange rate and interest rate fronts.  The local interbank money markets continue to operate smoothly with no notable signs of tightening. The Hong Kong banking system is highly liquid and is well prepared for such global market volatilities.  As usual, the HKMA stands ready to provide liquidity support to the banking system in case of need.

I expect market volatilities will continue in the near term until there is more clarity about the policy stance of the new US Administration.  In the meantime, I urge the public to remain vigilant and manage their risks prudently.”

Hong Kong Monetary Authority
9 November 2016