Monetary Secretary Paul Chan on Sunday stated Hong Kong’s monetary market performed effectively within the first quarter of this year and the metropolis’s steady economy also showed enhancements.
Writing in his weekly weblog, Chan stated the stock market noticed energetic trading within the first quarter of this year, with the everyday each day turnover within the first two months exceeding HK$260 billion – a 17 percent upward thrust year-on-year.
He stated the market grew to modified into great extra energetic in March, as each day turnover reached over HK$300 billion – an manufacture bigger of extra than eight percent in contrast with the same period perfect year.
“This shows that amid uncertainties, merchants are increasing their asset allocation in Hong Kong, no longer handiest because they search the metropolis as a decent shelter for his or her funds, but to boot thanks to the staunch economic development on the mainland and the gargantuan sequence of companies itemizing in Hong Kong, which offers them with tons of investment opportunities,” he stated.
The finance chief also stated Hong Kong’s IPO market persisted its sturdy efficiency, raising over HK$103 billion as of slack March, ranking first globally.
The SAR has considered extra than 500 itemizing applications, he added.
In the meantime, Chan stated Hong Kong also recorded enhancements in exports and native consumption.
He stated total retail sales within the first two months of this year rose by 11.8 percent year-on-year, marking the tenth consecutive month of development, adding that the rate of manufacture bigger modified into accelerating in contrast with the fourth quarter of perfect year.
Chan stated the SAR also noticed booming on-line sales, with year-on-year development of 27.5 percent within the first two months.
Edited by Tony Sabine
