Explore stories from Atlantic Canada.
Remembering Harley: Graveside memorial service honours homeless Hantsport man’s life | SaltWireHONG KONG - 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.
With a market value of around $4.3 trillion, Hong Kong is home to one of the top-ranked stock markets globally just behind those in the United States, Japan, China and Europe. It might spur a"short-lived rebound" in the Hong Kong stock market, he said, but longer-term issues such as the exodus of foreign investors and the tensions between China and the United States would remain an overhang.
"Liquidity is clearly down due to foreign investors reducing exposure to China, since many investors, ourselves included, access China shares from Hong Kong," said Rob Brewis, a portfolio manager at UK-based asset manager Aubrey Capital Management. China's economy has stumbled this year after a brief post-COVID bounce, with growth hurt by a protracted property crisis, elevated debt levels and sluggish demand.The decline in volumes has been dire for Hong Kong's hundreds of small hole-in-the-wall brokerages. Local media reported that a record 47 of the 638 trading participants on the Hong Kong exchange shut shop last year.
“The current trading volume is extremely low, and investors are reluctant to buy because they see no other investors participating. The willingness to invest has reduced sharply," said Cheung.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A Stock Guide for Hong Kong’s Policy Address as Home Sales SinkHong Kong Chief Executive John Lee may unveil measures boosting property sales and the stock market at his annual policy address on Wednesday, as he seeks to reinvigorate the faltering financial hub.
Read more »
Hong Kong Lowers Stock-Trading Tax to Revive Role as Hub(Bloomberg) -- Hong Kong is reversing an emergency increase in the stamp duty on stock trades as officials seek to revive the city’s status as a hub for...
Read more »
US State Senator Arrested in Hong Kong Airport Over Unloaded GunA senator from the US state of Washington was arrested on Friday night at Hong Kong International Airport over a gun in his carry-on bag, his office said.
Read more »
Hong Kong may seek to kick-start ailing property market in policy addressExplore stories from Atlantic Canada.
Read more »
Analysis-China to choose fiscal muscle over big reforms to revive economyExplore stories from Atlantic Canada.
Read more »
Hong Kong's Templewater to acquire Luye Medical's Singapore health unitsExplore stories from Atlantic Canada.
Read more »