News Snapshot:
Ant IPO pushes demand for HK dollar to most on record By Bloomberg Tuesday, October 20, 2020, 14:05 By Bloomberg Demand for Hong Kong dollars hasn’t been this strong since before the global financial crisis, when the US Federal Reserve flooded markets with liquidity. Stock sales from Chinese mainland megacaps such as Ant Group’s anticipated offering have drawn so much cash to the Hong Kong Special Administrative Region that the city’s currency has remained near the strongest it’s allowed to trade against the greenback since April. This year’s inflows have forced the Hong Kong Monetary Authority to sell local dollars,...
