Major bourses in Asia followed Wall Street higher on Friday as strong earnings and upbeat economic data tempered fears over rising inflation. The Nikkei 225 led the gains, climbing 1.8% to end at a 2-week high of 29069, with all major sectors advancing. Stocks in Hong Kong jumped 1.5% to 25331, after a two-day pause due to typhoon Kompasu and a public holiday, mainly lifted by automakers. The Shanghai Composite added 0.4% to 3572, as China is easing mortgage curbs and the PBoC injected more liquidity into the financial system. The Kospi closed 0.9% higher at 3015 and the ASX 200 gained 0.7% to 7362. On the week, the Nikkei 225 surged 3.6%, the Hang Seng 2%, the Kospi 2%, and the ASX 0.6% while the Shanghai Composite lost 0.6%. Traders now await China GDP growth figures for Q3 due on Monday for an update on the economic recovery.
Historically, the Hong Kong Stock Market Index (HK50) reached an all time high of 33484.08 in January of 2018. Hong Kong Stock Market Index (HK50) - data, forecasts, historical chart - was last updated on October of 2021.
The Hong Kong Stock Market Index (HK50) is expected to trade at 24013.23 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 21700.83 in 12 months time.