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Paul Chan Opines Global Interest Rate Decline Benefits Asset Mkts, Predicts Rebound in HK Stock Trading & IPOs
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Financial Secretary Paul Chan wrote in his blog that the Fed's half-point rate cut has strengthened the financial market's expectations of a gradual global rate decline, and he anticipates a more relaxed financial environment to benefit the asset market atmosphere and the business environment. Under the linked exchange rate system, Chan noted, it can be expected that future Hong Kong interest rate trends will be roughly similar to US rates, but the speed and extent of the decline will depend on local capital flows and market conditions. The Hong Kong stock market has risen to a more than two-month high, with the HSI accumulating nearly a 7% surge over six consecutive trading days, Chan pointed out. With improvements seen in market trading, the stock market atmosphere has enhanced, while the IPO market is gradually warming up. Year-to-date, Hong Kong's IPO fundraising amount has exceeded that of the entire previous year, and its global ranking has jumped to fourth place. Seeing that about 100 companies are currently applying to list in Hong Kong, Chan believes market financing activities will become more active. AAStocks Financial News |
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