Hong Kong Market Sees Significant Improvement In Q4 2024

According to PANews, Hong Kong's Financial Secretary Paul Chan Mo-po has noted a significant improvement in the overall market atmosphere as the fourth quarter of 2024 begins. The Hang Seng Index has risen to its highest level in approximately two and a half years, accumulating an increase of over 5,600 points, or 33%, over the past 15 trading days. The average daily turnover from September to this Friday was about HKD 192 billion, double the average daily turnover in August. The market capitalization of Hong Kong stocks has also risen to HKD 39.4 trillion. Investment products with a high proportion of Hong Kong stocks have also performed well. For instance, a research report indicated that the outstanding performance of Hong Kong stocks in September led to an overall return of more than 7% for the Mandatory Provident Fund in the third quarter, marking the best quarterly performance in nearly two years. It is expected that the market recovery and investors' cautious optimism will accelerate the listing process of many companies in Hong Kong, including numerous technology enterprises, and will also facilitate more companies to establish a presence in Hong Kong. Next month, the Office for Attracting Strategic Enterprises will announce a new batch of key enterprises, involving more than a dozen companies. Over half of these companies are from the fields of artificial intelligence and big data, hailing from mainland China, the United States, and Europe, with some being leading enterprises in their respective fields.