Hong Kong government: Reiterates bills are unnecessary and unwarranted

The Hong Kong government has responded to Trump signing the Hong Kong bills and reiterates bills are unnecessary and unwarranted.

Additional comments

• US bills harms the Hong Kong, US relationship and interests.
• Bills obviously intervene in internal affairs.

Meanwhile, Global times analysts have commented and said, "signing of the bill is not out of our expectation".

Also, China's deputy director-general Lijian zhao said," US abuses the monopoly status of US dollar while imposing unilateral sanctions & long-arm jurisdiction at every turn," and, "The US is a complete bully. Holding high the banner of "America first", it is only thinking about taking advantage of others. it raises tariffs whenever it likes."

FX implications

We have sen relatively muted reactions across markets so far, albeit the Nikkei had opened -0.5% and there is a risk-off tendency in the FX space, but hardly what we might expect or what will come should this act indeed put a halt on trade-deal progress between the US and China – Hong Kong bill may face retaliation - GT (Waiting for the full market risk-off response)