Hong Kong’s compulsory pension scheme MPF lost each member HK$10,800 (US$1,387) in the third quarter as China regulatory and Evergrande debt crisis converged in a perfect storm to crack markets lower.
Desperate times call for desperate measures. Hong Kong has announced handouts to its population to turn around sentiment. The country says that registration for cash handout to start in early July. The move is likely a blue print for greater China.
Bangkok, Hong Kong and Taipai are currently the cities most at risk from a global spread of the 2019 Novel Coronavirus (2019-nCoV) in a study based on the number of air travelers predicted to arrive there from the worst affected cities in mainland China.
Protesters and police continue to clash with no end in sight in Hong Kong. Protests turned violent over the weekend as the city braces for worse heading into China’s National Day this week. Riot police fired multiple volleys of tear gas while demonstrators hurled Molotov cocktails.