Editorial﹕Precautions needed against strong headwinds
文章日期:2018年6月21日

【明報專訊】STOCK MARKETS have sunk around the world amid escalating risks of a Sino-US trade war. Hong Kong's Hang Seng Index plummeted 841 points and fell below the key 30,000 level. This year has seen sudden changes in the global economic circumstances. With the US possibly speeding up its interest rate hikes, protectionism gaining ground and the risks of a trade war going up, pressure is mounting on multiple fronts. One has to watch closely whether the bull run in Hong Kong's stock markets will end after lasting for two years. Managing director of the International Monetary Fund (IMF) Christine Lagarde has described the global economic outlook as covered with dark clouds and there does not seem to be much room for manoeuvre given the latest circumstances concerning the two countries' trade disputes. In capital markets, all good things come to an end. No one can accurately predict when the last straw will fall. The SAR government and small investors should be well prepared for strong headwinds and be ready to face all possible storms that may rage in the external environment.

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