Hong Kong Market Makes Remarkable Gains in Q4 2024

Hong Kong's Financial Market: A New Dawn in Q4 2024

As we enter the fourth quarter of 2024, the financial landscape in Hong Kong is witnessing a remarkable turnaround. Financial Secretary Paul Chan Mo-po has observed a revitalized market atmosphere, with substantial gains marked over the past weeks.

Hang Seng Index Soars

The Hang Seng Index has surged to its highest level in nearly two and a half years, experiencing a significant increase of over 5,600 points, which translates to a 33% rise within the last 15 trading days. This impressive growth reflects a renewed investor confidence in the market.

Daily Turnover Doubles

Analysis reveals that the average daily turnover during September through to this week has ballooned to approximately HKD 192 billion. This figure represents a double increase from the average daily turnover recorded in August, painting a picture of heightened trading activity.

Market Capitalization and Investment Performance

In alignment with the positive sentiment, the market capitalization of Hong Kong stocks has escalated to HKD 39.4 trillion. Investment products featuring a significant portion of Hong Kong stocks are also witnessing notable success. Reports indicate that the stellar performance of Hong Kong stocks in September contributed to an overall return exceeding 7% for the Mandatory Provident Fund in the third quarter – a commendable achievement marking the best performance in nearly two years.

Anticipated Market Activities

Gazing into the future, the market recovery and a sense of cautious optimism among investors are poised to hasten the listing process for numerous companies in Hong Kong. This is particularly true for many technology enterprises eager to establish themselves in the region.

New Strategic Enterprises on the Horizon

Looking ahead, the Office for Attracting Strategic Enterprises is preparing to unveil a fresh batch of key enterprises next month. This initiative will reportedly include over a dozen companies, with more than half hailing from burgeoning sectors, notably artificial intelligence and big data. Many of these entities will come from mainland China, the United States, and Europe, featuring some of the leading enterprises in their respective fields.

Conclusion

The optimistic changes within Hong Kong's financial market signify a broader trend of recovery and growth, driven by strategic investments and a strong influx of technology firms seeking to make their mark in this vibrant economic landscape. Investors and stakeholders alike are closely monitoring these developments as they hold the promise of new opportunities and innovations in the region.