HKMA concerned about US economic slowdown risk

The head of the Hong Kong Monetary Authority, one of the world's largest holders of foreign exchange, said he remained apprehensive about the risk of a downturn in the US economy, according to the Friday overseas edition of the Financial Times.

"Like many other people, we're a little concerned about a sharp adjustment to the dollar because you are looking at a current account deficit of 4.5% of gross domestic product and the possibility of a hard landing," said Joseph Yam, head of the HKMA, th