No fund withdrawal in HK

There is no sign of a large-scale outflow of funds from Hong Kong, the Securities Times reported Wednesday citing Julia Leung Fung-yee, undersecretary for financial services and the treasury of Hong Kong Special Administrative Region.

Leung noted that Hong Kong's financial institutions are able to cope with fluctuations caused by the uncertain prospects of developed economies.

The US Federal Reserve announced that it could cut its massive bond-buying stimulus this summer, which led to a global foreign investment withdrawal, causing panic in emerging countries, according to media report.