A staff walking out of the Stock Exchange of Hong Kong offices in the Central district of Hong Kong. Hong Kong shares have gained 11% since a low on Dec 4, adding US$579bil to market values through Monday and pushing the index back to the level it was trading at last year before political protests escalated despite small losses on Tuesday (Jan 14). - AFP
HONG KONG: Valuations have jumped, earnings estimates are up, and forecasters are raising their targets on Hong Kong’s stock market, which has gone from pariah to darling in under half a year.
While investors around the world consider how a strengthening yuan could boost economic growth, the impact is increasingly felt in a city that is entwined with Chinese demand and global risk-on sentiment. Hong Kong shares have gained 11% since a low on Dec. 4, adding US$579bil to market values through Monday and pushing the index back to the level it was trading at last year before political protests escalated.
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