Do not miss the chance to catch Dr. Chan at the upcoming Shares Investment Conference in November!
For the full interview, click on the audio recording below.
Credits to 95.8FM
Sparked by the government’s contentious extradition bill, civilians and protesters continue to hold large scale protests and rallies in Hong Kong. The social unrest going into its fourth month, sees no signs of easing. How would it affect HK’s reputation and status as Asia’s financial hub?
How would it affect HK’s long-term economic development and investment prospects?
In an interview with 95.8FM, Dr. Chan Yan Chong shared his view that the social unrest has little impacts on HK’s financial sector and long-term outlook. Contending an example cited from Reuters that a tycoon and wealth managers are scrambling to move assets overseas to seek stability, Dr Chan holds a different view. In his opinion, while the unrest did affect confidence in general, political views are subjective and there are bound to be people that chose to let assets remain onshore. In addition, overseas assets could also quickly be repatriated. What is more, the protests and rallies are often only held during the weekends and hence do not affect the operations of financial institutions that are typically weekdays. As such, in reality, capital is still flowing unrestricted and HK’s financial sector is not as impacted as rumour has it.
More specifically, Dr. Chan explains that the HK retail sector is more devastated. This is because the mass protests during weekends also force nonparticipating citizens to stay home. Correspondingly, this can impact consumption spending severely.
In the long-term, HK’s challenges will not arise from the current unrest. The more tricky challenge would be to thrive along how the Mainland Central Government would position HK in the long-term.
Can’t wrap your heads around developing trends? Is your portfolio being held hostage to Trump’s whim and oh-so-frequent tirade? Are you worried about Hong Kong’s social unrest?
Our favourite GURU, Dr. Chan Yan Chong Is BACK! Best known for forecasting the peaks and troughs in the stock market cycle, Dr. Chan will share his foresight on various stock markets’ performances at Shares Investment Conference 2H19! Learn from The GURU himself and chart a smooth investment journey!