Hong Kong dollar could turn their retail market around

Endaba Group

Is this the good news the Hong Kong retail market has been waiting for? The value of the HK dollar is increasing and it may bring a much needed boost for retailers! Retail sales have been declining in HK over the past few years due to the policy to peg the value of the yuan to the US dollar. Whilst the yuan’s value has been falling 11.1% relative to the Japanese yen, alternative destinations have been much more attractive to mainland Chinese shoppers, including Japan and Europe. The value balance is now shifting back to HK – could this be enough to turn around their retail market?