Hong Kong stocks are back from the dead. Here’s why

📆 4/30/2024 3:09 AM
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Hong Kong’s benchmark Hang Seng Index has surged more than 7% in April as the best-performing major index in the world. It’s now heading into a bull market, rebounding nearly 20% from its January low.

Hong Kong’s benchmark Hang Seng Index surged more than 7% in April as the best-performing major index in the world. It’s now heading into a bull market, rebounding nearly 20% from its January low.

Earlier this month, news outlet Caixin reported that Beijing is learning from Japan’s experience of decades of stagnation and is considering launching a national platform to acquire unfinished housing projects across the country. These projects would then be turned into affordable housing and the units would be sold or rented out. “ is largely consistent with what we have long believed would be the most effective way to rescue the property sector,” said Nomura analysts on Monday.

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Stock market today: Hong Kong stocks lead Asia market gains while developer Vanke slumpsHong Kong stocks are leading gains in Asian markets while investors evaluate economic data from South Korea and Australia. U.S. futures were lower while oil prices rose. China real estate developer Vanke’s Hong Kong-listed shares slumped 11.4% on Tuesday after the company reported last week of a notable decrease in profit and no dividend payout.
Source: AP - 🏆 728. / 51 Read more »