Former Hong Kong Monetary Authority chief says 'tiny changes' in Biden-era report reason for hope, sees no threat of local dollar losing peg to US currency

News Snapshot:

A former chief of Hong Kong’s de facto central bank has noted an improvement in the United States’ attitude towards Hong Kong under the new Biden administration and expressed confidence the country will not deploy “nuclear” financial weapons on the city. Joseph Yam Chi-kwong, head of the Monetary Authority between 1993 and 2009, said he believed that while the US had been playing hardball with China over the sweeping national security law it imposed on Hong Kong last year, the sanctions so far employed would not take a huge toll on the city’s status as an international financial hub. Nor...