Hong Kong’s stock market flourishes with the Year of the Dragon

Hong Kong’s financial leaders are optimistic that the Year of the Dragon will bring renewed life to the city’s struggling stock market. The Hang Seng Index has historically seen positive returns during the Year of the Dragon, and financial officials believe that factors such as potential interest rate cuts in Europe and the US, as well as a stable and improving Chinese economy, will boost investment sentiment and the asset market. The Year of the Rabbit was a challenging one for Hong Kong’s equities market, but officials are confident in the city’s resilience and ability to bounce back. Despite a challenging macroeconomic and geopolitical backdrop in 2023, Hong Kong’s markets demonstrated resilience with record-high trading volumes in derivatives, fixed income, and ETFs. The CEO of Hong Kong Exchanges and Clearing, Nicolas Aguzin, highlighted the opportunities in the transition to clean energy, new technology, and the increasing relevance of Asia to the global order. Overall, financial officials believe that the Year of the Dragon will bring hope and positive change to Hong Kong’s stock market.