Australian PM Morrison: Suspending extradition treaty with Hong Kong

Dhwani Mehta FXStreet

Announcing measures to assist the Hong Kong (HK) residents on Thursday, Australia’s Prime Minister (PM) Scott Morrison said that they will suspend the extradition treaty with HK.

Additional quotes

“Concerned at imposition of national security law on Hong Kong.”

“Immigration program offers opportunities to Hong Kong citizens.”

“Will be extending visas by five years from today for skilled and graduate visa holders.”

“Offering a pathway to permanent residency. “

“To look at new incentives and arrangements to attract export-orientated Hong Kong-based businesses to relocate to Australia.”

“Same rules apply to getting a student visa and to getting a temporary work visa.”

“Around 10,000 Hong Kong citizens, residents are in Australia on student visas or on temporary work visas.”

“Not anticipating a surge of arrivals as a result of this change.”

“Not talking about tens of thousands of applications.”

Market reaction

AUD/USD is little changed on the above announcement, wavering around 0.6975, as the bears keep control amid a bit of a risk-off market mood.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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