Hong Kong could switch to yuan, dump US dollar peg: businessman Allan Zeman

Investors holding local stocks and bonds did not want to see the US dollar value of their investment tank alongside the currency, a problem that Hong Kong has long managed to avoid with its dollar peg.

“Stability is key to Hong Kong’s status as a financial centre,” said Kelvin Lau, a senior economist at Standard Chartered. “The peg anchors confidence. This has served Hong Kong’s industries well, particularly the financial services sector.” Continue reading