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The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. [1]
Stock disaster in 1983 (Negotiation deadlock between China and United Kingdom on Transfer of sovereignty over Hong Kong) Stock disaster in 1987 (Black Monday) Stock disaster in 1989 (Tiananmen Square protests) 1990s. Bear market from 1997 to 1998 (Asian financial crisis) 2000s. Stock disaster in 2000 (Dot-com bubble) Stock disaster in 2003 ...
Mortgage loans account for 25-30% of bank loans in Hong Kong. [1] Land ownership and land restrictions by the government risk inefficiencies with housing supply and demand. In 1998 there was a property price collapse; from 1997 to 2003 Hong Kong residential property prices fell by 61% [5] following the Asian economic crisis.
Weak domestic demand also affected the recovery of these economies. In 2008, retail sales fell 3% in Hong Kong, 6% in Singapore and 11% in Taiwan. [13] As the world recovered from the financial crisis, the Four Asian Tiger economies have also rebounded strongly. This is due in no small part to each country's government fiscal stimulus measures.
Hong Kong is facing its biggest crisis since it returned from British to Chinese rule in 1997, the head of China's Hong Kong and Macau Affairs office said on Wednesday, as more protests were set ...
Hong Kong is facing its worst crisis since it returned to China from British rule in 1997, the head of China's Hong Kong and Macau Affairs office said on Wednesday amid more anti-government ...
Investors took about US$1 billion out of hedge funds in Hong Kong in the third quarter, one of the largest quarterly outflows in the city since the global financial crisis a decade ago, according ...
On October 27, 1997, a global stock market crash was caused by an economic crisis in Asia, the "Asian contagion", or Tom Yum Goong crisis (Thai: วิกฤตต้มยำกุ้ง). The point loss that the Dow Jones Industrial Average suffered on this day currently ranks as the 18th biggest percentage loss since the Dow's creation in ...