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HK seeks to quell fears of asset bubbles

Posted on 16 November 2012

Preventing an attack on the local currency is one thing. But avoiding property overheating is another. Leung Fung-yee, undersecretary for financial services and the treasury of Hong Kong, has tried to strike a note of reassurance by telling China Daily that the city’s financial system is sound enough to withstand the current capital inflows and a potential outflow.
But her words seem barely sufficient to quiet public fears of bigger asset bubbles, especially one in the property market, as memories are still fresh of the megafund inflow in 2009 after the global financial crisis, which gave rise to Hong Kong’ elevated asset prices today………………………………………..Full Article: Source

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