Hong Kong stock market gains driven by technology shares, mortgage refinancing boosts real estate.

From Google: 2024-08-30 11:21:57

Hong Kong’s stock market saw gains, driven by technology shares and hopes for a China-US trade deal. The Hang Seng Index rose 1.6% for the week, reaching its highest close in over six weeks.

Mortgage refinancing is powering the real estate market in China. The volume of mortgage refinancing transactions surged by 37.7% in September compared to the previous month, indicating a boost in home buying activity.

In a week in review, China’s economy showed signs of stability with improved business confidence. The Shanghai Composite Index ended the week 0.7% higher, reflecting positive sentiment among investors.

Overall, the Chinese market is experiencing steady growth and optimism, setting a positive tone for the coming weeks. Investors are closely monitoring developments in the ongoing trade negotiations between China and the US for further market direction.



Read more at Google: China Market Update: Hong Kong Gains, Mortgage Refinancing Powers Real Estate, Week In Review – Forbes