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.
Hong Kong's government has for months tried to boost turnover and revive a torpid stock market, the latest coming on Wednesday when its leader John LeeBut the region's key financial centre and gateway to the world's second largest economy is a shadow of its former self as foreign investors reduce exposure to a China they view as increasingly isolated by its
Dickie Wong, executive director of research at Kingston Securities, said the stamp-duty cut was in line with expectations. "I suspect it is due to the perception of worse prospects in the Chinese economy as well as enhanced political risk. The only solution to this is just a reversal of these trends, i.e. better economy and better foreign relations. There is no easy answer."
That is dampening stock prices, "so we see the Hang Seng Index going from 20,000 to 18,000 to 17,000.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Faculty Positions at City University of Hong Kong (Dongguan) - Dongguan, Guangdong, China job with City University of Hong Kong (Dongguan)City University of Hong Kong (CityU) is widely recognized as an innovative hub for research and professional education.
Read more »
Hong Kong Cuts Housing, Stock-Market Taxes in Bid to Boost Global Standing -- UpdateBy Ben Otto Hong Kong will cut taxes on home purchases and stock trades, part of efforts to revive its credentials as a financial hub and boost a struggling...
Read more »
Wash. state senator arrested in Hong Kong for having gun in airportThe gun apparently hadn't been detected at a TSA security checkpoint in Portland, Oregon. Wilson reported the gun to customs at the Hong Kong Airport.
Read more »
State Sen. Jeff Wilson arrested at Hong Kong airport for gun in luggageA Washington State Senator was arrested at the Hong Kong airport for a gun in his luggage.
Read more »
Asia markets set for slight recovery after recent sell-off, but Hong Kong poised to fallAustralia's business activity contracted in October, while Japan's factory activity will be released later Tuesday. South Korea's October producer price index figures are also expected.
Read more »
Washington state senator arrested in Hong Kong after discovering firearm in his luggageWilson said he found the unloaded gun in his briefcase mid-flight. It went undetected at the Portland International Airport.
Read more »