In contrast, during the world-wide stock market crash of October 1987, the transactions systems were under severe stress and, indeed, some broke down, incapable of handling the enlarged volumes. At that time, the Hong Kong stock exchange could not open for several days.
I hold the view that these actions, coupled with the government’s measures and financial institutions’ efforts, have contained the disturbance in the financial and capital markets and effectively supported financing, mainly of firms. However, with the moderate pace of economic improvement and significant downside risks, financing, mainly of firms, is likely to remain under stress for the time being.