Investor Alert

New York Markets Close in:

Market Pulse Archives

July 8, 2020, 5:05 a.m. EDT

Trump administration could try to undermine Hong Kong dollar peg: report

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    HSBC Holdings PLC ADR (HSBC)

or Cancel Already have a watchlist? Log In

By Barbara Kollmeyer


The U.S. Trump administration may seek to retaliate against China for a controversial new security law by targeting some Hong Kong banks for supporting it, according to a report from Bloomberg News on Wednesday. The report said some advisors to President Donald Trump have discussed the possiblity of undermining the Hong Kong dollar peg, possibly by curtailing the amount of U.S. dollars Hong Kong banks can buy. The report sent shares of HSBC Holdings PLC /zigman2/quotes/208272822/composite HSBC -0.65% 3.8% lower in European trading as that bank was named as a one potential target. HSBC was widely criticized after its top regional executive, Peter Wong, publicly offered support for the new law, though some media reports say he was pressured to do so as he's a member of a top political advisory body to Beijing.

$ 30.52
-0.20 -0.65%
Volume: 896,517
Oct. 27, 2021 1:48p
P/E Ratio
Dividend Yield
Market Cap
$125.95 billion
Rev. per Employee

Get news alerts on HSBC Holdings PLC ADR — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.