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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 344499, member: 104606"] [B][SIZE=5]Hong Kong Stocks Become Top Risers After Wild Ride Subsides[/SIZE][/B] [img]https://i.imgur.com/gdqQTDK.jpeg[/img] Hong Kong enjoyed a sterling reputation for an entire century as a highly polished, utterly stable mantlepiece upon which global corporations could comfortably sit and where an international talent base could reside in fabulous surroundings and approach European, American, African and Asian markets with aplomb. Its financial markets economy has been recognized as one of the most developed in the world to the extent that despite its tiny size, it has its own reserve currency, which is a bastion of fiscal might on the world stage. These days, however, things are somewhat different as the independent nature of Hong Kong is now a fading memory, and its return to governance under the auspices of mainland China is now widely accepted. Having conceded its position as the world's meeting place to other global cities such as Singapore and Dubai, Hong Kong has gone through a sea change over recent years, which is reflected in its stock market performance. At the beginning of 2024, it had become clear that several decades of wealth generation among Hong Kong-based businesses had been eroded since the realm of power was handed back to China, with the stock market being valued at a lower point than when Hong Kong's British era ended in 1997 at the expiry of the lease at which point Hong Kong became a Special Administrative Region of China. That is quite some depreciation. Since the beginning of this year, however, swathes of volatility have been clearly apparent in Hong Kong's Hang Seng 50 Index. Going back over the years, performance has been incredibly volatile, to say the least. Back in 2022, the variations were simply incredible. On January 6 that year, the Hang Seng 50 index was at 21869.8 points according to FXOpen pricing. However, this plunged dramatically to 14,849 just four days later on January 10. A similar situation took place at the beginning of last year; however, by January 2024, stock prices in Hong Kong were not only at a very low point but also stagnant. [B][URL="https://fxopen.com/blog/en/gt-hong-kong-stocks-become-top-risers-after-wild-ride-subsides/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the FXOpen INT company only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the the FXOpen INT, nor is it to be considered financial advice. [/I] [/QUOTE]
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