Analysis: China holds the key to Hong Kong's shrinking stock market

  • 📰 Reuters
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Hong Kong's efforts to revive its shrinking stock market are mere stopgap solutions, as analysts say a reversal in fortunes for Asia's premier financial hub would not be possible without a major improvement in China's economic prospects.

Hong Kong's government has for months tried to boost turnover and revive a torpid stock market, the latest coming on Wednesday when its leader John LeeBut the region's key financial centre and gateway to the world's second largest economy is a shadow of its former self as foreign investors reduce exposure to a China they view as increasingly isolated by its

Dickie Wong, executive director of research at Kingston Securities, said the stamp-duty cut was in line with expectations. "I suspect it is due to the perception of worse prospects in the Chinese economy as well as enhanced political risk. The only solution to this is just a reversal of these trends, i.e. better economy and better foreign relations. There is no easy answer."

That is dampening stock prices, "so we see the Hang Seng Index going from 20,000 to 18,000 to 17,000.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong Cuts Housing, Stock-Market Taxes in Bid to Boost Global Standing -- UpdateBy Ben Otto Hong Kong will cut taxes on home purchases and stock trades, part of efforts to revive its credentials as a financial hub and boost a struggling...
Source: MarketWatch - 🏆 3. / 97 Read more »