The HKMA spent HK$ 816 million to defend the peg yesterday, or roughly $0.1 billion and 0.02 percent of reserves. Financial markets trend towards the exponential though, so it's going to turn into a problem much faster than the 19 years it would take if the HKMA spent $0.1 billion a day.
ZH: Hong Kong Intervenes, Fails To Rescue Dollar From Breaking Peg
Bytedance Said to Buy Beijing’s Zhongkun Plaza Mall for RMB 9B
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[image: Bytedance Zhang Yiming]
ByteDance, the private Chinese company behind the hugely popular video chat
app TikTok, is said to have acquired a failed B...
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