Economy
Unemployment rate widens to 5.2% in February-April
This is the highest figure recorded in over a decade.
Export volumes down 9.1% in Q1
Volumes to the US led the decline.
GDP contraction widens to 8.9% YoY in Q1
The decline is said to be the worst drop on record.
Hong Kong amongst the last to recover from COVID-19: analyst
The region will likely go back to its pre-COVID levels by Q1 2021.
GDP growth drops 8.9% YoY in Q1
This is due to the weak performance in both domestic and external demand.
Exports down 5.8% to $323.6b in March
Exports to India, Thailand and Singapore posted double-digit declines.
Singapore and Hong Kong will be the most impacted amidst pandemic: Moody's
Both markets are deemed export-dependent.
Almost half of senior managers expects business situation to be worse in Q2
Accomodation and food services worst hit amongst all sectors.
Inflation up 2.3% YoY in March: C&SD
This is attributed to the rents paid and waived by the government.
Hong Kong's currency-peg defense heightened to $4.34b
HKMA sold $2.79b (US$360m) of the city’s currency.
Total exports volume up 5.4% in February
Exports to Vietnam, Taiwan and China saw double-digit increases.
Hong Kong's leaders see combined income cut of 20% on virus
A portion of the income has been donated to a charity organisation.
Hong Kong may release more financial stimulus packages in 2020
Fiscal deficit of 9.5% of GDP to be expected this year due to additional spendings.
Hong Kong named 5th largest IPO market
Hong Kong IPOs remained resilient in Q1 2020.
Gross national income up 1.6% to $3.02t in 2019
Hong Kong recorded a net primary income inflow of $148.2b.
Hong Kong dollar scores best month since 2003 as local rates hold up
The HKD rose over 0.5% MoM in March.
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