HKMA says it has the ability to defend USD/HKD peg
According to the Hong Kong Monetary Authority (HKMA), they are equipped with the tools necessary to continue defending the USD/HKD peg after the HKMA intervened in global markets several hours ago, marking the first time since this May that the authority had to visibly step into exchange markets.
HKMA: Hong Kong has the ability, capacity to cope with market volatility.
Capital outflows represent a challenge, but the HKMA is able to cope as well.
Will take further action if and when necessary.
Hong Kong stocks are also taking a hit thanks to declines in tech indexes, but the HKMA is dedicated to preserving stable rates.