The following is issued on behalf of the Hong Kong Monetary Authority:

     In response to media enquiries, the Chief Executive of the Hong Kong Monetary Authority (HKMA), Mr Norman Chan, gives the following statement today (November 9):

     "The United States (US) presidential election results have surprised the market and as a result I observed significant volatilities in the global equity and foreign exchange markets today.

     Despite market volatilities globally, Hong Kong dollars and offshore Renminbi have remained stable in both exchange rate and interest rate fronts.  The local interbank money markets continue to operate smoothly with no notable signs of tightening. The Hong Kong banking system is highly liquid and is well prepared for such global market volatilities.  As usual, the HKMA stands ready to provide liquidity support to the banking system in case of need.

     I expect market volatilities will continue in the near term until there is more clarity about the policy stance of the new US Administration.  In the meantime, I urge the public to remain vigilant and manage their risks prudently."

Ends/Wednesday, November 9, 2016
Issued at HKT 17:52

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