Currency woes likely to add pressure to Hong Kong's tourism, retail sectors

The Hong Kong dollar, which is pegged to the US dollar, has strengthened against major currencies and is currently hovering around HK$7.85 for every US dollar.
The Hong Kong dollar, which is pegged to the US dollar, has strengthened against major currencies and is currently hovering around HK$7.85 for every US dollar. PHOTO: REUTERS

HONG KONG - On top of being caught in the trade war between the United States and China, Hong Kong now faces headwinds in the form of currency woes that will add greater pressure on its tourism and retail sectors.

Despite these concerns, analysts in a straw poll remain optimistic, saying the two factors will have limited impact on the city's economy for 2018.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content