For global investors trying to the gauge the fallout from surging interest rates and slowing economic growth, Hong Kong is quickly emerging as a must-watch market.
Perhaps nowhere else is as exposed to two of the biggest worries roiling global asset prices ¡ª the Federal Reserve¡¯s rapidly tightening monetary policy and China¡¯s sputtering economy.
While Hong Kong¡¯s $466 billion foreign-reserves stockpile and plentiful interbank liquidity suggest little chance of an imminent crisis, signs of financial stress are building.
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