Rate hikes and sovereign wealth losses cloud Hong Kong's economic picture

Hong Kong is having to weather a series of negative economic and financial blows as it faces into the second half of 2022 and beyond.   Interest rate hikes, slower economic growth and the record loss of its de facto sovereign wealth fund, the Exchange Fund, have all come together and  signal that the economy still has some hurdles to clear before it can start to grow robustly.  On July 31, Financial Secretary Paul Chan warned he may have to lower the city’s full-year GDP growth …