Hongkong Bank Has Little Risk To Russia

December 18th, according to Hong Kong media reports. Russian currency Severe diarrhea has attracted widespread attention. Some economists believe that the collapse of the rouble has seriously affected market confidence and has become the most economic crisis that can not be ignored after the issue of sovereign debt in the United States and Europe. The Hongkong monetary authority has said that Hongkong banks have less than 0.1% of the total assets of Russia, and the bank has been asking banks to carefully manage their liquidity in order to resist the pressure brought about by the reversal of market conditions and keep a close watch on market conditions to ensure Hongkong's monetary and financial stability.

The Central Bank of Russia pushed the index interest rate to 17 percentage points, and still failed to stabilize investors' confidence in ruble. Zhuo Liang, an economist at Hongkong Bank of China, said that the ruble exchange rate was extraordinarily sensitive to oil price fluctuations. The oil price in New York fell by 43.2% this year, and the ruble fell to 51.8% against the US dollar. Even if the Central Bank of Russia continues to raise interest rates, as long as oil prices continue to slump, Rouble It is still inevitable that if rouble continues to fall, the possibility of capital controls in Russia will increase with a view to preventing capital outflows.

Bank of China: China is ready at any time.

Hung Ho, managing director and chief strategist of the research department, believes that there is no need to worry too much. Russia now has 500 billion dollars in foreign exchange reserves, and hedge funds are hard hit in 2008, and there is a currency swap agreement between China and Russia. China has huge foreign exchange reserves and does not rule out China's helping hand at any time. He said this is a political game. "Enemy is friend". China will not sit idly by the US sanctions against Russia.

Morgan Stanley foreign exchange strategist Geoff Kendrick believes that if the ruble continues to fall, it will have a greater impact on Europe, especially in Eastern Europe, but it has no direct impact on Asia and will not induce the Asian currency crisis. Although this event is similar to the crises in Asia and Russia in 1997 and 1998, including the fall in oil prices and the expected increase in interest rates in the United States, most countries and regions in Asia except Malaysia are oil importing countries. After the storm in 90s, foreign reserves in Asia increased to help defend their currencies, and the proportion of US dollar liabilities in some countries, such as India, Indonesia and Philippines, has improved. Asian Currency The chances of being affected by the rouble problem will be lower than in 90s.