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This paper contributes to the ongoing debate on the nature and characteristics of the volatility transmission channels of major crash events in international stock markets between 03 July 1997 and 09 March 2021. Using dynamic conditional correlations (DCC) for conditional correlations and volatility clustering, GARCH-BEKK for the direction of transmission of disturbances, and the Diebold-Yilmaz spillover index for the level of volatility contagion, the paper finds that the climbs in external shock transmissions have long-lasting impacts in domestic markets due to the contagion effect during crisis periods. The findings also reveal that the heavier magnitude of financial stress is transmitted between Asian countries via the Hong Kong stock market. Additionally, the degree of volatility spillovers between advanced and emerging equity markets is smaller compared to the pure spillovers between advanced markets or emerging markets, offering a window of opportunity for international market participants in terms of portfolio diversification and risk management applications. Furthermore, the study introduces a novel early warning system created by integrating DCC correlations with a state-of-the-art deep learning model to predict the global financial crisis and COVID-19 crisis. The experimental analysis of long short-term memory network finds evidence of contagion risk by verifying bursts in volatility spillovers and generating signals with high accuracy before the 12-month crisis period. This provides supplementary information that contributes to the decision-making process of practitioners, as well as offering indicative evidence that facilitates the assessment of market vulnerability for policymakers. [ABSTRACT FROM AUTHOR]

Borrower hardship, while a critical issue, is not often addressed by consumer protection frameworks across the Asia–Pacific. The widespread use of payment holidays during the COVID-19 crisis provides a significant case study on the importance of having borrower hardship provisions as a consumer protection tool. This paper compares the pre-pandemic availability of payment holidays in three Asia–Pacific jurisdictions: Australia, Singapore, and Hong Kong. It evaluates their existing legislative frameworks, as well as regulatory and industry guidelines on borrower hardship, and contrasts this with their use of payment holidays during the pandemic. Where there were existing industry guidelines on borrower hardship, lenders were able to spearhead an industry-wide approach towards payment relief without regulatory intervention by governments. Beyond the pandemic, the paper argues that self-regulation has potential for protecting borrower interests by standardising the scope of, and the procedure for, obtaining hardship relief. It argues that there is a need for a greater prevalence of industry codes of conducts governing lenders' approach towards borrower hardship across the Asia–Pacific. [ABSTRACT FROM AUTHOR]

As one of the most densely populated places in the world, Hong Kong fared relatively well in the first year of the COVID-19 pandemic, with a very low number of cases and fatalities per capita. This was mostly due to the Hong Kong government, healthcare workers, and the general public's institutional and individual memory after they successfully overcame the deadly severe acute respiratory syndrome (SARS) epidemic in 2003. However, while Hong Kong was well accustomed to measures such as wearing masks and social distancing, the cooperation of the Hong Kong public to government restrictions was highly affected by its local political context, especially after widespread anti-government protests began mid-2019. This brought the public's trust in government to an all-time low, creating a political 'new normal', which underpinned how COVID-19 policies would be proposed, accepted, and implemented, if at all. To understand how science advice was offered and how public health decisions were made, this research investigates the evolution of Hong Kong's science advisory mechanisms for public health from before SARS, after SARS, and during COVID-19 in 2020, including the roles of key organisations and departments, the establishment of new centres and committees, and the creation of workgroups and expert advisory panels. This paper compares and analyses the reasons behind these differences in science advisory mechanisms between SARS and COVID-19. The findings from this research reinforce the unquestionable need for robust science advisory structures and knowledgeable scientific experts to solve health-related crises, though more research is required to understand the ways in which science advice influences both policy decisions and public acceptance of these policies. [ABSTRACT FROM AUTHOR]

The present paper explores the synchronic variations and diachronic changes in political discourses in Hong Kong (HK) and in Mainland of People's Republic of China (PRC). The relationship between lengths of linguistic constructs and their immediate constituents (including sentences and clauses, and clauses and words) are fitted using the function y = axb based on the Menzerath–Altmann (MA) law to capture the characteristics of language as self-organizing complex systems. We found that the two fitted parameters a and b, as distinctive characteristics of complex systems, can distinguish two regional variants of political speeches from HK and PRC over different periods in time. We also found that the same parameters can capture language changes between different periods of political speeches from the PRC. More specifically, we found that regional variations and historical changes show different degrees of salience at different constituency levels. In addition, we found compounding effects between historical change and regional variations. That is, the two regional variants of political speeches are closer to each other at the earliest diachronic period as compared with the latter two periods, as represented by the fitted parameters of the relationship between sentence and clause lengths. Our results provide strong support for the hypothesis for the MA Law capturing the characteristics of language as a complex self-organizing system, as the two fitted parameters account for the interaction of diachronic language change and synchronic variation. [ABSTRACT FROM AUTHOR]

This paper presents a new computational framework for mapping state-sponsored information operations into distinct strategic units. Utilizing a novel method called multi-view modularity clustering (MVMC), we identify groups of accounts engaged in distinct narrative and network information maneuvers. We then present an analytical pipeline to holistically determine their coordinated and complementary roles within the broader digital campaign. Applying our proposed methodology to disclosed Chinese state-sponsored accounts on Twitter, we discover an overarching operation to protect and manage Chinese international reputation by attacking individual adversaries (Guo Wengui) and collective threats (Hong Kong protestors), while also projecting national strength during global crisis (the COVID-19 pandemic). Psycholinguistic tools quantify variation in narrative maneuvers employing hateful and negative language against critics in contrast to communitarian and positive language to bolster national solidarity. Network analytics further distinguish how groups of accounts used network maneuvers to act as balanced operators, organized masqueraders, and egalitarian echo-chambers. Collectively, this work breaks methodological ground on the interdisciplinary application of unsupervised and multi-view methods for characterizing not just digital campaigns in particular, but also coordinated activity more generally. Moreover, our findings contribute substantive empirical insights around how state-sponsored information operations combine narrative and network maneuvers to achieve interlocking strategic objectives. This bears both theoretical and policy implications for platform regulation and understanding the evolving geopolitical significance of cyberspace. [ABSTRACT FROM AUTHOR]

The present research reports the findings of three studies, with objectives to demonstrate the impacts of health-promoting behaviors on psychological well-being as well as the mediating roles of sense of control (SOC) and perceived severity of COVID-19 in these relationships. Study 1 was a cross-sectional survey conducted in 473 middle-aged and older Chinese adults before the COVID-19 pandemic to assess their health-promoting behaviors, personal mastery and perceived constraints, life satisfaction, and depressive symptoms. Study 2 was conducted during the second wave of the COVID-19 outbreak in Hong Kong (between March to April 2020), in which 292 participants from Study 1 were successfully contacted to report their emotional responses to the pandemic. Using a different sample, Study 3 was a longitudinal study that measured 495 participants' health-promoting behaviors, personal mastery and perceived constraints at baseline, and their perceived severity and mental health outcomes during the outbreak of omicron cases in Hong Kong (i.e., the fifth wave of the COVID-19 outbreak) in March 2022. All three studies demonstrate that the beneficial effects of health behaviors can be extended to psychological well-being and reveal possible underlying mechanisms through enhancing one's SOC and lowering perceived severity of the COVID-19 outbreak. These results provide important insights to future health promotion programs for improving psychological resources and psychological well-being of middle-aged and older adults in face of disease-related threats. [ABSTRACT FROM AUTHOR]

This study explores teachers' perspectives with regards to teaching English in virtual classrooms, specifically with regards to teaching English as a second language within the context of emergency remote learning in Hong Kong during COVID-19. Through undertaking thematic analysis of six interviews with English language teachers at a university in Hong Kong, this study explores how teachers view the benefits, challenges and personal and professional consequences of the shift to emergency remote teaching during the pandemic. Taking a social constructivist approach to the topic, the study also seeks to uncover how teachers view such provisions as being improved under future emergencies and with respect to online English language teaching moving forwards generally. This research topic contributes both to a longstanding debate on the ways in which digital technologies can enhance education and language learning, as well as the emerging body of literature examining how teachers and students have responded to the implementation of digital learning in online classrooms during the COVID-19 pandemic. [ABSTRACT FROM AUTHOR]

This study examined the latent structure of the broad range of complex neuropsychiatric morbidities occurring 1 year after COVID-19 infection. As part of the CU-COVID19 study, 248 (response rate=39.3%) of 631 adults hospitalized for COVID-19 infection in Hong Kong completed an online survey between March-2021 and January-2022. Disorder prevalence was compared against a random non-infected household sample (n=1834). 248 surveys were received on average 321 days post-infection (Mean age: 48.9, 54% female, moderate/severe/critical infection: 58.2%). 32.4% were screened to have at least one mental disorder, 78.7% of whom had concurrent fatigue/subjective cognitive impairment (SCI). Only PTSD (19.1%) was significantly more common than control (14%, p=0.047). Latent profile analysis classified individuals into P1 (12·4%)-no current neuropsychiatric morbidities, P2 (23.1%)-SCI/fatigue, P3 (45.2%)-anxiety/PTSD, P4 (19.3%)-depression. SCI and fatigue pervaded in all profiles (P2-4) with neuropsychiatric morbidities one-year post-infection. PTSD, anxiety and depressive symptoms were most important in differentiating P2-4. Past mental health and P4 independently predicted functional impairment. Neuropsychiatric morbidity was associated with past mental health, reduced resilience, financial problems, but not COVID-19 severity. Their confluence with depressive and anxiety symptoms predicted impairment and are associated with psychological and environmental factors. [ABSTRACT FROM AUTHOR]

This study investigated how the acceptance and use of self-regulatory strategies in online learning affected Hong Kong secondary school students' participation in online learning. A self-reported questionnaire was distributed to 1381 students from six secondary schools. Findings of the descriptive analysis indicated that students did not frequently use most types of online self-regulatory strategies. Although they agreed that the online learning methods were easy to use and facilitated learning, they did not actively participate in online learning activities and showed a low tendency to continuation. Further, structural equation modeling indicated that the effect of strategy use on actual participation was stronger than that of user acceptance. The former had a significant indirect effect on actual participation through the strong effect it had on user acceptance. Consequently, suggestions have been made for improving the instructional design of online learning and increasing students' willingness and readiness to participate in online learning. [ABSTRACT FROM AUTHOR]

With the COVID-19 outbreak, emergency remote teaching – an unprepared distant mode of education became the only possible alternative for schools. The present large-scale survey with 3,672 Grade 3 and 9 students, their parents, and 863 teachers/principals was conducted in the metropolitan city of Hong Kong after half a year of school lockdown. Results showed teachers, principals, and parents were worried about students' inability to concentrate and learn without teachers' explanations. In contrast, students, particularly younger ones, were less affected. They perceived their academic achievement was not worsened and they were more lively. Generally, lack of computers and stable internet was not seen as problems. Notably, socially disadvantaged students were not different in their perceived challenges, affects, life satisfaction, or perceived academic achievement. For cities with adequate provision of computers and internet facilities, the pandemic probably forced a positive and giant leap in using advanced technologies and pedagogies. [ABSTRACT FROM AUTHOR]

Hong Kong's Covid-19 epidemic circumstances have given us a valuable opportunity to reflect on Hong Kong's elderly care policies. This essay argues that Hong Kong should learn from the West and provide a subsidy to family caregivers for proper elderly care. We rebut the social and moralistic reasons for not introducing such a subsidy in Hong Kong. We indicate that providing cash subsidy to family caregivers does not monetize or tarnish Confucian filial obligation to take care of elderly people, but enable adult children from low-income families to undertake this obligation effectively. In addition, we contend that providing such a subsidy would not significantly affect the job market in Hong Kong and that incurred financial and manpower costs for monitoring family care are controllable. [ABSTRACT FROM AUTHOR]

Purpose: This study investigated the associations between some factors related to working from home status (WFHS) and positive/negative experiences due to social distancing and their interactions effects on depressive symptoms during the COVID-19 pandemic. Methods: A random population-based telephone survey interviewed income-earning adults in the Hong Kong general population during April 21–28, 2020 (n = 200). Results: Mild to severe depression (according to PHQ-9) was reported by 12% of the participants. The prevalence of WFHS categories was 14% for 3–7 days and 13% for ≥ 8 days (past 2 weeks). The multivariable regression analysis showed that, social isolation (β = 0.36; p < 0.001), relaxation feeling in daily life (β = − 0.22; p = 0.002), and WFHS ≥ 8 days (β = 0.15; p = 0.027), but not perceived huge inconvenience and improved family relationship, were associated with depressive symptoms. Statistically significant interaction effects were found. Some positive experiences buffered the potential harms of some negative experiences of social distancing on depressive symptoms; WFHS ≥ 8 days significantly moderated the risk/protective effects of social isolation, improved family relationship, and relaxation feeling on depressive symptoms. Conclusions: Social distancing is double-edged. Positive experiences should be maximized while negative experiences be minimized, as both were directly and interactively associated with depression. Intensive but not mild to moderate (< 80%) WFHS may impact depressive symptoms negatively via its direct association with depression; it also moderated the associations between positive/negative experiences due to social distancing and depression. Further research is required to discern the inter-relationships among WFHS, positive/negative experiences of social distancing, and depression to better cope with the stressful pandemic. [ABSTRACT FROM AUTHOR]

Background: The coronavirus disease 2019 (COVID-19) pandemic is having a profound impact on the health and development of children worldwide. There is limited evidence on the impact of COVID-19 and its related school closures and disease-containment measures on the psychosocial wellbeing of children; little research has been done on the characteristics of vulnerable groups and factors that promote resilience. Methods: We conducted a large-scale cross-sectional population study of Hong Kong families with children aged 2–12 years. Parents completed an online survey on family demographics, child psychosocial wellbeing, functioning and lifestyle habits, parent–child interactions, and parental stress during school closures due to COVID-19. We used simple and multiple linear regression analyses to explore factors associated with child psychosocial problems and parental stress during the pandemic. Results: The study included 29,202 individual families; of which 12,163 had children aged 2–5 years and 17,029 had children aged 6–12 years. The risk of child psychosocial problems was higher in children with special educational needs, and/or acute or chronic disease, mothers with mental illness, single-parent families, and low-income families. Delayed bedtime and/or inadequate sleep or exercise duration, extended use of electronic devices were associated with significantly higher parental stress and more psychosocial problems among pre-schoolers. Conclusions: This study identifies vulnerable groups of children and highlights the importance of strengthening family coherence, adequate sleep and exercise, and responsible use of electronic devices in promoting psychosocial wellbeing during the COVID-19 pandemic. [ABSTRACT FROM AUTHOR]

Purpose: Hong Kong has experienced four waves of COVID-19 since the first case was confirmed in January 2020. Several studies have highlighted the psychological impacts of the outbreak in Hong Kong but have largely ignored the protective factors that contribute to resilience among vulnerable families. This study adopted an ecological resilience framework to explore the impact of this epidemic on members of families with youth with a delinquent tendency/mental health concerns and the ecological protective factors for these vulnerable families. Methods: Random sampling based on a sampling frame provided by one of the largest local social service organizations in Hong Kong led to the recruitment of 407 respondents who were interviewed using a battery of standardized questionnaires. Results: The results showed that 30.6% and 11.5% of respondents reported a moderate and a severe level of psychological distress, respectively, almost double the percentages reported in a previous study conducted in Hong Kong before the COVID-19 outbreak. Around 36.6% of respondents indicated they had encountered financial problems and almost 40% indicated aggravated financial circumstances since the outbreak. Hierarchical regression analysis revealed that financial stress was the strongest predictor of psychological distress. Structural equation modeling indicated that family support, indoor leisure activities and community resources significantly mediated the negative influence of COVID-19-related stressors on psychological distress of family members. Conclusion: Family leisure activities, family support, community spirit and mutual help within the context of social-distancing restrictions may need to be promoted to benefit vulnerable families in Hong Kong under the COVID-19 epidemic. [ABSTRACT FROM AUTHOR]

As global economies strive for post-COVID recovery, stock market reactions to reopening announcements have become crucial indicators. Though previous research has extensively focused on COVID's detrimental impact on stock markets, the effects of reopening remain underexplored. This study provides the first causal analysis of the effect of easing restrictions on Chinese firms' stock prices following the end of China's three-year Zero-COVID policy. Utilizing regression-discontinuity design, we find that most relaxed measures had minimal or negative impact. However, stock prices jumped 1.4% immediately after the full reopening announcement on December 26, 2022. Using a difference-in-differences approach, we also note a 1.6% increase in the stock prices of Mainland China firms relative to firms in other districts on the Hong Kong stock market two months post-reopening. Our findings offer key insights for policymakers and contribute significantly to academic discourse on the causal relationship between reopening policies and stock market performance. [ABSTRACT FROM AUTHOR]