• 31 mins Americans Are On A Crash-Course With Credit Card Debt
  • 3 hours The Mining Industry Is Staging A Comeback
  • 19 hours Opioid Producers Face Bankruptcy As Federal Crackdown Accelerates
  • 22 hours U.S. Sanctions Are Wreaking Havoc On Iran's Economy
  • 1 day Billionaire Hedge Fund Legend Bets Big On Gold
  • 1 day Will Facebook’s Crypto ‘Libra’ Challenge Bitcoin?
  • 2 days Will The Stock Market Really Crash If Trump Isn’t Re-Elected?
  • 2 days For American Businesses, The Fairy Tale Is Already Over
  • 2 days Market Mayhem Sparks Worries Of A Looming Recession
  • 2 days Closure Of World's Most Important Waterway Could Be An Economic Disaster
  • 3 days Would You Give Up Your Privacy For A Few Bucks From Facebook?
  • 3 days The $3.2 Trillion Caspian Caper
  • 4 days The Billion-Dollar Brands Behind The Street Fashion Coup
  • 4 days Gold Miners See Massive Upside Potential As Precious Metals Climb
  • 5 days Colorado Rakes In $1 Billion In Pot Revenue
  • 5 days London Metals Exchange Bars Day Drinking On Trading Floor
  • 6 days Tax Cuts And Cheap Money Push The U.S. Budget Deficit Closer To The Edge
  • 6 days Fake “Made In Vietnam” Certificates On The Rise As China Looks To Skirt Tariffs
  • 6 days Kremlin Moves To Dump The Dollar
  • 6 days How Climate Change Could Lead To A Global Economic Crisis
Michael Kern

Michael Kern

CONIL

Michael Kern is a newswriter and editor at conil.me, Oilprice.com, and a writer at Crypto Insider. Michael has several years of experience covering cryptocurrencies, and…

Contact Author

  1. Home
  2. Investing
  3. Stocks

Hong Kong Stock Market Surges Past Japan

Hong Kong

Hong Kong has climbed above Japan to become the world's third-largest stock market, behind only the U.S. and China.

The benchmark Hang Seng Index has grown by 17 percent since the start of the year, adding $937 billion to the market cap for equities trading in the city, compared to $371 billion for Japan.

Expectations that China's economic slump will bottom out before the start of the second half of 2019 have assisted in raising its stock exchange, still the most significant in Asia, following last year's exceptional drop.

The last time the Hong Kong market was higher than Japan's was almost four years ago.

China remains ahead of the rest of the region, the most significant equity market in Asia with a market cap of $7.6 trillion, while the United States still holds the leading spot globally, with a market cap of an impressive $31.3 trillion.

Web giant Tencent Holdings Ltd. has actually been the main chauffeur of Hong Kong's increase with a 22 percent gain this year.

Hong Kong market benefits from trade deal optimism

Trump stated recently that an offer was more than likely "four weeks" away but the conversations began previously this year to end the nine-month trade war, the fish line has consistently been pushed back.

Regardless, China and the U.S. have traversed another milestone, with the two sides agreeing on a system to police any agreement, including new enforcement offices, triggering optimism in world markets, including Hong Kong. Related: Big Banks Face Off Against Congress

The enforcement scheme and the team behind it have been a considerable difficulty to conquer, with China fretted that policing of its management by United States authorities would be an infraction of sovereignty.

The arrangement, nevertheless, will similarly permit China to keep track of U.S. practices, a mutual recognition which authorities stated exposed decision from both sides to reach a trade offer.

U.S. Treasury Secretary Steven Mnuchin stated, “We’ve pretty much agreed on an enforcement mechanism, we’ve agreed that both sides will establish enforcement offices that will deal with the ongoing matters.”

China and the United States have entered what has in fact been described as the last stage of concentrated negotiations to reach a settlement.

By Michael Kern for conil.me

More Top Reads From conil.me

Back to homepage

Leave a comment

Leave a comment