Oct 7 2024, 09:13
The Hang Seng Index is higher on Monday with recent trading volumes posting exceptional numbers, even during China’s public holidays. This is a tailwind that investors can’t ignore.
Moreover, China National Development and Reform Commission will be holding a press conference on Tuesday to discuss a package of incremental economic policies which is expected to stoke more excitement for Chinese and Hong Kong equities. Investors can recall it was a PBOC-led briefing two weeks ago which sparked this powerful rally and now the NDRC is set to drive more bullish momentum.
All of which will keep the Hang Seng Index on track to reach the 24,000 area and beyond as traders look back over the past decade for guidance on its direction.(ayu)
Source: Bloomberg
