Property Sales
Hong Kong’s Financial Secretary, Paul Chan, has expressed optimism about the city’s economy, citing recent improvements in property sales and the stock market.
According to data from the Land Registry, the value of property transactions in Hong Kong rose by 26% in the first half of 2023 compared to the same period last year. This increase is attributed to a number of factors, including the government’s recently introduced cooling measures and low interest rates.
Stock Market
The Hang Seng Index, which tracks the performance of the city’s largest companies, has also rebounded strongly in recent months. As of July 2023, the index had risen by over 20% since its low point in March. This recovery has been driven by a number of factors, including the easing of COVID-19 restrictions in China and the global economic recovery.
Economic Outlook
Chan said that the recent improvements in the property market and the stock market are a sign that the city’s economy is on the mend. He said that the government will continue to monitor the situation closely and take necessary measures to support the recovery.
Chan’s optimism is shared by many economists. A recent survey by Bloomberg found that a majority of economists expect Hong Kong’s economy to grow by more than 3% in 2023.
Positive Signs
The recent improvements in the property market and the stock market are positive signs for Hong Kong’s economy. These improvements suggest that the city is on the mend after a difficult few years.
It is still too early to say whether the recent improvements in the property market and the stock market will be sustained. However, these improvements are a positive sign for Hong Kong’s economy.
Kind regards E. Thompson.
