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BRIEF-HKMA Says Banks' Asset Quality May Deteriorate In Coming Quarters Due To Negative Impact Of COVID-19

Sept 29 (Reuters) - Hong Kong Monetary Authority:

* SAYS UNCERTAINTIES OVER THE PATH OF GLOBAL AND DOMESTIC ECONOMIC RECOVERY AMID PANDEMIC

* SAYS RISING U.S.-CHINA TENSIONS WILL CONTINUE TO POSE SIGNIFICANT CHALLENGES TO HONG KONG BANKING SECTOR

* SAYS AGGREGATE PRE-TAX OPERATING PROFIT OF RETAIL BANKS DECLINED BY 20.0% IN H1 2020 FROM YEAR EARLIER

* SAYS DESPITE MARKET VOLATILITIES ARISING FROM COVID-19 OUTBREAK, HONG KONG DOLLAR CONTINUED TO TRADE IN A SMOOTH AND ORDERLY MANNER

* SAYS BANKS' ASSET QUALITY MAY DETERIORATE IN COMING QUARTERS BECAUSE OF NEGATIVE IMPACT OF COVID-19 Source text in English: bit.ly/30iRMJf (Reporting by Hong Kong newsroom)

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