General
A
Assessment of Hong Kong's image following the Stock Exchange closure
Damage was definitely done to Hong Kong's image
as a financial centre. The closure of SEHK for four days was considered a mistake.
2.
Contacts in the city have made the following general comments
:
An
a) an international financial centre such as
Hong Kong is concerned with much more than just its securities markets. authoritative source was in no doubt that the recent events in Hong Kong's securities markets had had no effect on fluancial activities outside the securities markets.
b) the sharp fall in the Hang Seng index was
not significantly different from the falls in other stock markets and, on this account, Hong Kong's reputation has not suffered any
Where the more than other stock markets.
SEHK was perceived to be significantly different to other markets was on account of
its 4 day closure.
c) The setting up of the Review Committee was
welcome and its role supported. The appointment of Mr Ian Hay Davison as Chairman has been well received.
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