Following is the transcript of remarks by the Secretary for Financial Services and the Treasury, Professor K C Chan, at a media session after attending the Hong Kong Exchanges and Clearing Limited's Chinese New Year gathering on the first trading day of the Year of the Rooster this morning (February 1):

Reporter: How do you expect the stock market to be changed in this year and how are President Trump's policies going to affect Hong Kong?

Secretary for Financial Services and the Treasury: I think generally speaking, Hong Kong's economic situation in this coming year is somewhat better than the past year. You can see that from our unemployment rate, the general spending by our consumers, which is in a way good for the market. The continuing recovery of the US economy is also good for the global market and therefore for the Hong Kong market. So, generally speaking, we say that the underlying condition for the market is not bad, but the problem for this year is that we are facing considerable uncertainty which is coming from the interest rate changes, naturally from the US. But more importantly, the uncertainty caused by the Trump administration in regard to his trade policy, economic policy and also his policy on financial regulation. These could have some repercussions for the market. I would regard this coming year to be full of uncertainty.

(Please also refer to the Chinese portion of the transcript.)

Ends/Wednesday, February 1, 2017
Issued at HKT 12:07

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