They seem to have their game face on and doing some pretty good things to the Hong Kong economy! Props to them!
1: Furthering Yuan bonds. Good stuff, can lead to further currency appreciation and actually takes care of some of the oversloshed deposits in HK that can’t find a home.
2: HK ETF’s on Mainland market: Don’t know about that though… Better than nothing, but seems a little bit like a PR gig to me, and who knows what exactly will come out of the derivatives tied to them…
3: More cross investing. Great idea. Expecially with the JV of the three exchanges, this could be good.
All in all, thanks for supporting HK’s financial centre status goes to Beijing, and it was sorely needed now when HK looks like it’s heading for a recession and the rest of the world is freaking out.
Other misc. note: Mr. Noda went out and pledged G7 intervention, yen surges. A sign that the G7 isn’t all too willing or able to help Japan?