WORLDglobal
Hong Kong firms face profit squeeze as US importers cut orders amid oil crisis
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Updated 3 hours ago
First seen March 22, 2026 19:12:03Stay on top of this story
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Quick Summary
US importers have cut orders and shifted to short-term contracts amid a global oil crisis triggered by war in the Middle East, according to Hong Kong business leaders, who warn that profit margins are eroding and liquidity is becoming strained. Executive Council member and businessman Jeffrey Lam Kin-fung said on Sunday that the US-Israel war on Iran had driven up fuel costs, raising operating expenses for local firms. He urged the Hong Kong government to bolster ties with Central Asian and...