US stock market monitored: FS

March 10, 2020

Financial Secretary Paul Chan:
As regards the US stock market, the market had been very volatile in the past week. Further development will depend on a number of factors. The outbreak of the coronavirus, the drop in oil prices are relevant factors. But on the other hand, their own domestic economic and political situation is also relevant. 

For us in Hong Kong, being a small and open economy, we have to be vigilant and we have to monitor the situation very closely. I think first and foremost, at the moment, is (the need) to roll out the various measures under the Anti-epidemic Fund as well as roll out the measures in the Budget. 

As to the economic forecast and whether further measures are required, we will keep an open mind and monitor the situation closely and look at the impact of the various measures.

(To watch the full media session with sign language interpretation, click here.)

The Government will monitor the US stock market closely and roll out the measures under the Anti-epidemic Fund and the Budget as soon as possible to stimulate the economy and relieve people’s hardship.

Financial Secretary Paul Chan made the remarks ahead of today’s Executive Council meeting, adding that the direction of the US stock market hinges on multiple factors including the coronavirus outbreak.

“As regards the US stock market, the market had been very volatile in the past week. Further development will depend on a number of factors. The outbreak of the coronavirus, the drop in oil prices are relevant factors. But on the other hand, their own domestic economic and political situation is also relevant.”

Mr Chan outlined the Government's fiscal priorities for Hong Kong.

“For us in Hong Kong, being a small and open economy, we have to be vigilant and we have to monitor the situation very closely. I think first and foremost, at the moment, is (the need) to roll out the various measures under the Anti-epidemic Fund as well as roll out the measures in the Budget.

“As to the economic forecast and whether further measures are required, we will keep an open mind and monitor the situation closely and look at the impact of the various measures.”