The Hong Kong stock market jumped 2.1% yesterday, is at a five-week high, and is now over 23,000.
Hong Kong is an interesting market. It enjoys the rapid economic growth of mainland China but not the high interest rates. The reason is that the Hong Kong dollar is pegged to the U.S. dollar and therefore must mirror our Federal Reserve’s moneytary policy.
High growth + low interest rates = a winning combination.
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- Hong Kong GDP up 4.2% (08/17/08)
- Hong Kong cuts rates, spurs 10% jump (10/30/08)
- November retail sales rise in Hong Kong (12/02/09)
