HONG KONG: a technical recession in the third quarter, with retail and tourism sectors battered by almost five months of anti-government protests.
HSBC’s cut, to take effect Nov. 1, will likely help the Hong Kong economy and companies, George Leung, the bank’s Asia-Pacific adviser, said at a briefing. There’s not much more room for banks in the city to cut further, and the reduction will probably be the last this year, he said.
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