Rising bad debts on Hong Kong commercial property ‘a concern’: HKMA CEO

Quick Summary:

The increase is not alarming’ as the banking system is robust enough to handle the uptick, according to Eddie Yue.

The retail sector is in even worse shape, with valuations plummeting about 40 per cent from recent highs, according to MSCI.

The high interest rate environment since 2022 also burdened many developers, particularly smaller players.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong KongChina

Topics: Commercial Banking Local Estate Cent Sector Real Pandemic Situation June Last

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-30 @ 09:30:08 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 237 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22780743

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Main Topics: Business

Official Website: scmp.com

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Headquarters: Hong Kong

News Last Updated: 11 minutes ago

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