Anyone who bought into Hong Kong’s big property developers five years ago would have suffered sleepless nights at first – then enjoyed a stunning boom. The territory is both pegged to cheap US credit and geared to China’s growth. But if the era of an ultra-easy Federal Reserve ends, is China’s stabilising growth enough to support the developers’ shares?
任何一個在5年前買入香港大型房地產開發商股票的人，起初都會輾轉難眠，而后則會享受一輪令人艷羨的漲勢。香港既與美國廉價信貸掛鉤，又與中國內地增長緊密相連。但如果美聯儲(Fed)的超寬松政策時代結束，中國正在企穩的經濟增長是否足以支撐這些開發商的股價？
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