Hong Kong’s Stock Trading Hits Record $57 Billion Amidst Market Rally: Benchmark Index Sees Best Weekly Gain Since 1998

Hong Kong's everyday stock trading reaches an all-time high of US$57 billion as the market surge continues to gain momentum. This week, the city's standard index rose by 13%, marking the highest weekly increase since 1998 during a US$440 billion bullish streak.

The Hang Seng Index surged by 3.6 per cent, closing at 20,632.30 on Friday, marking its highest point since April 2023. This surge resulted in a 13 per cent increase this week, marking the most significant surge since the 14.9 per cent spike in October 1998. This rally has reinstated over US$440 billion in value to local shares.

On Friday, the overall trading volume skyrocketed to an unprecedented HK$445 billion (US$57 billion), as per data from Bloomberg, which dates back to 1992. The Tech Index saw a significant leap of 5.8 per cent, while the Shanghai Composite Index ascended 2.9 per cent, hitting a four-month peak.

"Our clients have recently been extremely active in Asian equities, particularly in stocks from mainland China and Hong Kong," stated Paul Smith, the head of markets for Japan, Asia North, and Australia at Citi. "The new initiatives introduced have injected new energy into the market, and we anticipate this trend to persist due to sustained investor interest."