Hong Kong, 25 January 2024 (WAI): Despite facing challenges such as fluctuating interest rates, geopolitical tensions, disruptions in supply chains, and the aftermath of the U.S. presidential campaign, regulatory authorities in Hong Kong remain confident in the market’s resilience.
Premier Li Qiang emphasized Hong Kong’s status as an international financial hub, highlighting its competitiveness and attractiveness to investors.
Following Monday’s decline, the Hang Seng Index rebounded by 2.63 percent on Tuesday, indicating a positive shift in market sentiment. The Hang Seng Tech Index also surged by 3.7 percent, signaling renewed investor confidence in the tech sector.
Premier Li Qiang’s recent remarks underscored the Chinese government’s commitment to enhancing the quality and investment appeal of listed companies and strengthening market conditions.
Vice-President Han Zheng reiterated the central authorities’ support for Hong Kong’s financial sector during a meeting with HSBC Group Chairman Mark Tucker, emphasizing the need for continued cooperation to bolster the city’s global economic status.
Despite current market fluctuations, Lee expressed optimism about the future trajectory of the stock market. He urged investors to remain cautious and vigilant, reminding them of the inherent volatility of the stock market.
Also Read:Â Fostering global peace through arms control initiatives
Conita Hung, an executive committee member of the Hong Kong Institute of Financial Analysts and Professional Commentators, predicts a potential rebound in the market, citing expected interest rate cuts by the U.S. Federal Reserve and supportive monetary policies from the Chinese mainland.
However, she anticipates that the sluggish property market may continue to exert pressure on stock performance in the near term.
Lee’s reassurances and Hung’s insights provide a balanced perspective on the current state and prospects of the Hong Kong stock market, offering investors valuable guidance in navigating market uncertainties.
Political Analyst | M.Phil. Scholar
