Shares in Hong Kong have closed at their highest level in over twelve weeks, with the benchmark Hang Seng rising for the fourth consecutive session to finish above the 22,400 level, helped by materials and energy stocks. The sentiment was lifted by easing coronavirus-induced in China's capital, Beijing, and the financial hub of Shanghai, as well as signs that China will roll out tools in its policy reserve in a timely way to cope with more economic challenges. On the trade front, Hong Kong's trade gap widened sharply in May, with imports growing while exports fell. Sands China and Galaxy Entertainment Group were among the biggest gainers on the index, 12% and 7.9%, respectively.
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 June of 2022.
The Hong Kong Stock Market Index (HK50) is expected to trade at 20726.50 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 18013.79 in 12 months time.