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Hong Kong finance chief says property market remains resilient

Hong Kong finance chief says property market remains resilient

Reuters · 07/27/2022 22:33
Hong Kong finance chief says property market remains resilient

- Hong Kong Financial Secretary Paul Chan said on Thursday the property market remains resilient although sentiment will be dented by increased mortgage payments amid higher interest rates.

Chan was speaking after the city's de facto central bank raised its base rate charged through the overnight discount window by 75 basis points to 2.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin.


(Reporting By Donny Kwok and Anne Marie Roantree; Editing by Christian Schmollinger)

((annemarie.roantree@thomsonreuters.com; +852 97387151; Reuters Messaging: annemarie.roantree.thomsonreuters.com@reuters.))