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Hong Kong’s Hang Seng Index gained 1.46% to 21,443.10 HKD, with the Hang Seng TECH Index rising 1.99% as tech stocks led gains. The market showed an upward trajectory amid cautious optimism.
Hong Kong’s major stock indices climbed today, with the Hang Seng TECH Index leading at +1.09%. Positive momentum was observed across all indices, reflecting investor confidence amid economic optimism.
Hong Kong’s major indices witnessed a strong upward trajectory today, with the Hang Seng Index rising 2.39% and the Hang Seng TECH Index climbing 3.21%, signaling renewed investor optimism.
Hong Kong’s major indices saw an upward trajectory today, with the Hang Seng Index climbing 1.63% and the Hang Seng TECH Index rising 2.21%, driven by strong investor confidence.
In addition to revenue collection efforts, the Ministry of Finance has submitted a draft decree to the Government proposing a reduction in land rent fees for 2024. This initiative aims to support recovery efforts following the recent impact of Typhoon Yagi. Two options are being considered for the reduction: either a 15% or 30% decrease in land lease costs.
Uzir highlighted that the LI's monthly performance reflected a positive rebound, increasing by 1.1% in July 2024, following a decline of 0.4% in June. He noted that the semiconductor imports, which contributed 1.0% to the LI, signal a resurgence in the technology sector and its related industries. The sustained performance of the LI, which consistently exceeded 100.0 points in July, demonstrates a resilient Malaysian economy bolstered by strong domestic consumption and ongoing demand from international markets.
Moody’s noted that Pakistan’s macroeconomic indicators have shown signs of improvement, particularly following the approval of a $3 billion bailout package by the International Monetary Fund (IMF) in July 2024.
China's economy exhibited steady growth in the first half of 2024, with industrial value added, fixed asset investment, and retail sales all rising year-on-year, signaling robust economic performance across multiple sectors.
Thailand has welcomed over 17.5 million foreign tourists in the first half of 2024, a 35% increase from last year, and is on track to meet its year-end target of 36.7 million arrivals, according to official data.
Japanese lawmakers experienced an average income increase of ¥3.74 million ($23,000) in 2023, marking the first rise in five years, bringing their average annual income to ¥25.3 million, reflecting economic recovery and changes in legislative allowances.
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