High rise apartment market may represent risks to the economy, says economist
A key economi부천출장샵c indicator released Thursday indicated the global equity market continues to recover and that a housing market boom is underway in Hong Kong.
The index for Hong Kong has seen a steady increase in monthly gains of 0.7 percent for the first six months of 2017, according to data compiled by Bloomberg. The Shanghai Composite Index increased 4.4 percent in the same period.
Hong Kong is the world’s largest equity market, but a surge in mainland home prices that were not enough to make up for a recent slowdown has been hampering market returns in the Chinese c속초출장안마ity. While local officials have long acknowledged that housing demand is a critical driver in Hong Kong’s economic performance, those hopes for a rapid market correction appear to be fading.
U.S. equity markets are also gaining traction.
The S&P 500 index, which has been recovering from a 13-month slide Wednesday, rose 1.2 percent to 1,215.43. The Dow industrials index jumped 13.5가평출장샵 percent to 18,086.54 while the Nasdaq Composite index went up 2.2 percent to 4,822.65.
— With assistance by Jonathan Wong