Major bourses in Asia were mixed on Tuesday, with markets in Hong Kong (-4.8%) and China (-2.5%) extending the sell-off for a 3rd straight day, led by heavy selling in the internet, tech and property sectors amid worries over more policy changes following Beijing's regulatory crackdowns in the education and property sectors. In contrast, the ASX 200 led the gains, hitting a fresh high of above 7,400 after Federal Treasurer Josh Frydenberg said that it was premature to talk about a potential recession for Australia's economy that had hit pre-pandemic levels in Q1. The Nikkei 225 added 0.5%, gaining for the second straight session, amid upbeat US corporate earnings; while the Kospi rose 0.2% after declines in the prior session, helped by solid Q2 GDP data.
Historically, the Hong Kong Stock Market Index (HK50) reached an all time high of 33484.08 in January of 2018. Hong Kong Stock Market Index (HK50) - data, forecasts, historical chart - was last updated on July of 2021.
The Hong Kong Stock Market Index (HK50) is expected to trade at 26487.42 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 24205.52 in 12 months time.