Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Alex Ng is the founder and head of research of the economic and investment research house Fortress Hill Advisors. Prior to founding Fortress Hill Advisors, he worked as an economic research analyst across government, academic, and financial institutes including the Hong Kong Financial Secretary’s Office (Office of the Government Economist), Economic Research Center of the Institute of Asia-Pacific Studies at CUHK, and State Street Global Markets. Alex holds a Master of Arts in Economics degree from Columbia University in the City of New York and a Bachelor of Arts in Economics and Mathematics from Wesleyan University (CT, USA).

Our firm's expertise lies in macroeconomics, global macro,  global thematic research, company and equity research, multi-asset strategy, event driven, and ESG.

We also do proprietary trading on the firm's capital, to try to vindicate our investment thesis. Our flagship publication, Heard from Fortress Hill (HFFH) provides our weekly market observations and is freely available on our website: https://fortresshill-advisors.com/hffh/

Founder & Head of Research

How Emerging Markets Fare Admidst High US Interest Rate

China Banks; Challenged on Credit Quality Trends, with Selective Opportunities to Be Found

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Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

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Macroeconomics

<ul>
<li>Overall, the warning from slow real credit growth on reduced credit supply and demand is the main lesson from the Asia crisis 1997-98.  </li>
<li>China High FX reserves; low borrowing overseas and dominance of domestic investors in Yuan markets argues against a currency crisis. </li>
<li>Asia widespread banking crisis are also unlikely to repeat in China, though we see growing stress among rural banks that in the worst case could be a rural banking crisis.  </li>
</ul>


Overall, the warning from slow real credit growth on reduced credit supply and demand is the main lesson from the Asia crisis 1997-98.  
China High FX reserves; low borrowing overseas and dominance of domestic investors in Yuan markets argues against a currency crisis. 
Asia widespread banking crisis are also unlikely to repeat in China, though we see growing stress among rural banks that in the worst case could be a rural banking crisis.  


China: Lessons from the 1997-98 Asian Crisis