, Columnist
Hong Kong’s Dollar Peg Is Too Tight
It’s time to widen the currency’s two-decade trading band.
Mortgage rates have fallen sharply in Hong Kong, helping the property market.
Photographer: Lam Yik/BloombergHong Kong is on the cusp of a big, beautiful bull run. But it’s in danger of being ruined.
The financial center is finally getting back on its feet. The city is leading in global initial public offerings rankings this year. Its stock market is one of the world’s best performing. Meanwhile, rents have returned to pre-pandemic levels, giving homebuyers some comfort that a yearslong slump in residential real estate may be near its end.