Asset Bubbles Will Be Key Concern in 2010, Warns HK's Monetary Chief

Hong Kong Monetary Authority chief executive Norman Chan Tak-lam warns that asset bubbles will be a primary concern in the stability of Asia economies next year, reports the South China Morning Post.

 

According to the Post, Chan stresses that it is important to prevent asset bubbles from forming because it would be more difficult to lessen the effects later.

 

The newspaper says that more than HK$640 billion has flowed into Hong Kong since October last year, with 20% of that directed at the property market, pushing home prices up for 10 consecutive months.

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