Author: Rickie W. WongPublisher:
ISBN:
Category :
Languages : en
Pages : 94
Book Description
The Effect of Intervention by the Hong Kong Government in the Stock Market
Author: Rickie W. WongIntervention to Save Hong Kong
Author: Charles Albert Eric GoodhartPublisher: Oxford University Press, USA
ISBN: 9780199261109
Category : Business & Economics
Languages : en
Pages : 236
Book Description
By August 1998, the Hong Kong economy had become threatened not only by the natural consequences of the Asian crisis (1997-98), but also by waves of speculation, betting that the authorities would be forced to abandon the linked exchange rate (to the US dollar). When facing previous speculative attacks (starting October 1997), the authorities had followed traditional policies of raising interest rates. But by August 1998, such policies had helped to batter asset markets; property prices and output were falling, and confidence was low. Moreover, the speculators had developed an ingenious 'double play', simultaneously selling both the foreign exchange market and the Hang Seng equity market short; whether the authorities used an interest rate defense, or abandoned the 'link', the speculators would gain either way. So, the authorities decided on a bold, unexpected and unconventional response to reports of a further attack. They would undertake counter-intervention, again both in the equity and foreign exchange markets. This book provides a fascinating story in itself, and insights into what lessons academics and practitioners can learn from the turbulent events of the time.
Free Float and Market Liquidity
Author: Kalok ChanPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
The August 1998 Hong Kong government intervention in the stock market offers a natural experiment for studying the relation between a free float and market liquidity, where a free float is the portion of listed share capital that is freely traded on the market. Our findings show that, relative to a group of control stocks, there was an increase in the price effects of trades for the 33 Hang Seng Index component stocks that were bought by the government. On the other hand, there was no clear cross-sectional relation between the change in the price effect and the magnitude of government holdings or the decrease in the free float.
FROM NON-INTERVENTION TO RELUC
Author: Keung Vigor FungPublisher: Open Dissertation Press
ISBN: 9781361060636
Category : Political Science
Languages : en
Pages : 220
Book Description
This dissertation, "From Non-intervention to Reluctant Interference: the Hong Kong Government Policy Toward the Stock Market" by Keung, Vigor, Fung, 馮強, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b3197357 Subjects: Stock exchanges - China - Hong Kong Economic policy Stock exchanges
From Non-intervention to Reluctant Interference the Hong Kong Government Policy Toward the Stock Market
Author: The Effectiveness of Government Intervention in Maintaining Financial Market Stability in Hong Kong
Author: Yiwen XiaoCrisis and Transformation in China's Hong Kong
Author: Ming K. ChanPublisher: Routledge
ISBN: 1315498642
Category : History
Languages : en
Pages : 416
Book Description
Hong Kong has undergone sweeping transformation since its return to Chinese sovereignty in 1997. This is a multidisciplinary assessment of the new regime and key issues, challenges, crises and opportunities confronting the Hong Kong Special Administrative Region (HKSAR).
Hong Kong in the Shadow of China
Author: Richard C. BushPublisher: Brookings Institution Press
ISBN: 081572814X
Category : Political Science
Languages : en
Pages : 395
Book Description
A close-up look at the struggle for democracy in Hong Kong. Hong Kong in the Shadow of China is a reflection on the recent political turmoil in Hong Kong during which the Chinese government insisted on gradual movement toward electoral democracy and hundreds of thousands of protesters occupied major thoroughfares to push for full democracy now. Fueling this struggle is deep public resentment over growing inequality and how the political system—established by China and dominated by the local business community—reinforces the divide been those who have profited immensely and those who struggle for basics such as housing. Richard Bush, director of the Brookings Institution’s Center on East Asia Policy Studies, takes us inside the demonstrations and the demands of the demonstrators and then pulls back to critically explore what Hong Kong and China must do to ensure both economic competitiveness and good governance and the implications of Hong Kong developments for United States policy.
Contemporary Hong Kong Government and Politics
Author: Wai-man LamPublisher: Hong Kong University Press
ISBN: 9888139479
Category : Political Science
Languages : en
Pages : 416
Book Description
This title describes the present political system and development in Hong Kong. The second edition assesses the main strands of continuity and change in Hong Kong's government and politics since the creation of the Hong Kong Special Administrative Region in 1997.
State and Market in Contemporary China
Author: Scott KennedyPublisher: Rowman & Littlefield
ISBN: 1442259442
Category : Political Science
Languages : en
Pages : 69
Book Description
The short essays in this volume, contributed by leading experts on Chinese economic policy, provide crisp and insightful analyses of the Chinese state's approach toward markets, the role of key actors and institutions, the evolving nature of industrial policy and the effectiveness of China’s international commitments to constrain such practices, and a preview of the likely contents and significance of China’s 13th Five-Year Plan.