Hong Kong's Financial Crisis--1997-98 Case Solution
The country Thailand affected its free fall when its currency was delinked from the U.S. dollar in July. Hong Kong wasn't immune to the woes that are regional. The first assault on the Hong Kong dollar started in earnest in October 1997. The impact on the HKSAR deepened as the disaster in Asia worsened. Hong Kong's stock market took a beating as three more strikes were mounted by speculators in 1998. Faced with the prospect of a worsening economy and this scenario, on August 14, 1998, the authorities shifted from really being a regulator that was passive to an active market participant by collecting substantial positions in local blue-chip stocks.
This is just an excerpt. This case is about GLOBAL BUSINESS
PUBLICATION DATE: January 01, 1999
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