chan mo-po: the overall market sentiment in hong kong has improved significantly
2024-10-06
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china news service, hong kong, october 6. financial secretary paul chan mo-po of the hong kong sar government said on the 6th that entering the fourth quarter of 2024, the overall market sentiment has improved significantly. he also mentioned that the key enterprise introduction office (introduction office) will announce a list of a new batch of key enterprises in november, involving more than 10 enterprises.
chen maobo pointed out in his blog that entering the fourth quarter, the hang seng index rose to a high of about two and a half years, with a cumulative increase of more than 5,600 points in the past 15 trading days, an increase of 33%. the value of the hong kong stock market also rose to hk$39.4 trillion. many factors are conducive to the market's continued improvement in the future. among them, a number of policy measures announced earlier by mainland china to vigorously support the economy play a key role. at the same time, the market believes that the u.s. interest rate cut cycle has begun, so the risk appetite for investment has increased. the purchase demand of many fund portfolios triggered by position indicators, coupled with the very attractive valuations of the hong kong and mainland markets, have made investors cautiously optimistic about the market outlook.
chan mo-po believes that it can be expected that the rebound in market conditions and investors' cautious optimism about the market outlook will push many companies to speed up the process of listing in hong kong, including many innovation and technology companies, and will also encourage more companies to settle in hong kong. the relevant trend also reflects that the sar government’s past efforts to enhance market competitiveness are gradually bearing fruit.
chen maobo revealed that the introduction office will announce a list of a new batch of key enterprises in november, involving more than 10 enterprises, more than half of which are from the fields of artificial intelligence and big data, respectively from mainland china, the united states, europe and other places, and some are even more a leading company in its field.
he also pointed out that hong kong’s listing system has been continuously reformed and innovated over the past period of time. currently, more than 330 new economy companies have been listed in hong kong, taking the hong kong stock market to a new level. these reforms have not only enhanced the attractiveness and vitality of the hong kong stock market, but also made hong kong a preferred listing location for many innovation and technology companies, enriched the industry structure of hong kong listed companies, and attracted more people who focus on new economic growth points and long-term investor interest in the hong kong stock market. a booming capital market will also attract more high-quality companies, forming a virtuous cycle.
in addition, chan mo-po said that at the end of october, he will lead a delegation including the financial and innovation and technology circles to the middle east to introduce to the locals the latest developments of hong kong as an international financial, trade and innovation and technology center, and hong kong’s unique features under "one country, two systems". advantages and functions, as well as new opportunities in the guangdong-hong kong-macao greater bay area and the joint construction of the “belt and road” initiative. further deepening the multi-level exchanges and cooperation between hong kong and the gulf arab countries will bring more mutually beneficial business opportunities to investors and enterprises in both places, and better highlight the role and contribution of hong kong as a "super contact" and "super value-added person". (over)
(source: china news network)
