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#Business : "Emerging" Markets face the risk of slower economic growth this year !

Singapore and Hong Kong are small and open economies that are highly exposed to swings in the global environment,

HSBC said it downgraded stocks in Singapore and Hong Kong as the two major financial centers in Asia face the risk of slower economic growth this year.



The largest bank in Europe lowered its stance on Singapore stocks to “neutral” from “overweight,” and downgraded Hong Kong equities from “neutral” to “underweight,” it said in a report dated March 26, which outlined the bank’s Asian equity strategy for the second-quarter.

The two economies are key bases for global banks and major businesses seeking opportunities in Asia.

Stock markets in Singapore and Hong Kong have been rising this year after suffering losses in 2018. 



The Straits Times Index has moved 4.22 percent higher so far this year, while the Hang Seng Index jumped 11.15 percent in the same period.

But the small and open nature of both economies mean the two countries are highly exposed to swings in the global environment, HSBC said.
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