HKMA CEO says rising bad debts to be offset by stock rally and Middle East opportunities

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The story "HKMA CEO says rising bad debts to be offset by stock rally and Middle East opportunities" was covered 2 weeks ago by SCMP, a news publisher based in Hong Kong.

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HKMA CEO says rising bad debts to be offset by stock rally and Middle East opportunities - SCMP

Quick Summary:

The recent stock market rally may have the wealth effect that people who gain from the stock market will go shopping and dining,’ Eddie Yue says.

The Fed is expected to continue lowering rates, and the HKMA will follow suit due to the linked exchange rate system, which will lower funding costs for borrowers, Yue said.“The bad debt may have risen, but the situation is manageable, as the Hong Kong banking sector has collateral and a strong capital adequacy ratio to back up loan defaults, while the 100 per cent loan guarantee scheme is a special programme with which the government will shoulder the bad debt,” he said.“There is no need to worry about the stability of the banking sector.

But Eddie Yue Wai-man had a more positive take on the situation.