HK official issues warning on hot money  

香港“財爺”料資金凈流入港元會持續(xù)

香港特區(qū)財政司司長曾俊華28日預(yù)期，資金凈流入港元的情況會持續(xù)一段時間，但難以預(yù)料最終會有多少資金凈流入，和資金流向何時逆轉(zhuǎn)，他呼吁市民小心資金流向突然逆轉(zhuǎn)的風險。

Hong Kong (CNS) -- Financial Secretary of the Hong Kong Special Administrative Region John Tsang Chun-wah has said he anticipates that hot money is likely to continue flowing into Hong Kong for some time. He also warned of the risk posed by its sudden movement out of the local market.

The Hong Kong Monetary Authority (HKMA) has intervened in the currency market, as the local currency hit the upper limit of its peg to the U.S. dollar of 7.75, he wrote on his official blog on Sunday.

As for the worries that capital inflow may further raise roaring property prices, Tsang said there was no direct correlation between them. The bullish investor sentiment which has dominated the market, together with the third phase of quantitative easing announced by the U.S. Federal Reserve, resulted in higher property prices, even if no hot money moved in, he added.

Tsang said the bullish market sentiment was dangerous, and that measures implemented by the government would hopefully reduce the risk.

The capital inflow may continue, but it is difficult to predict how much more hot money will come and when it will move out, he said, adding that the global economic outlook now is even more uncertain than in 2008 and 2009.