News Snapshot:
Hong Kong banks face higher asset risks in their mainland lending portfolios as China’s economy slows amid continued coronavirus disruptions and financial pressure in the nation’s property sector deepens, according to Moody’s Investors Service. A slowdown will be particularly acute for lenders in Hong Kong, with lending in the mainland accounting for as much as 35 per cent of some banks’ loan portfolios, according to the credit rating agency. “The impaired loan ratios for Hong Kong banks’ mainland loans will likely further rise this year in light of China’s economic slowdown, after increasing more abruptly than overall loan exposures over...
