Saikyo Sakura Assets Says Positive Hong Kong Election Results Cause the Hang Seng to Surge
OSAKA, Japan--(BUSINESS WIRE)--Nov 25, 2019--
Japanese Wealth Management company Saikyo Sakura Assets has commented on the recent rally in Hong Kong stock markets. The Hang Seng Index surged over 1.5 percent with 47 out of the 50 constituent stocks showing gains.
Chinese financial markets also reacted positively with the Shanghai Composite Index rallying towards 1 percent gains.
These financial gains have been due to the election results that came out on Sunday, with the pro-democracy camp officially winning 17 out of 18 district councils, all of which had previously been under pro-establishment control to date.
With the escalating protests in Hong Kong, it had seemed to weigh heavily on market sentiment since violence erupted in the beginning of July; however, the new results are viewed to calm the protesters and restart the Hong Kong economy to its previous highs.
“Numerous companies have reacted positively, showing significant percentage gains such as Sun Hung Kai Properties, the company rose 3 percent.” Observed Anthony Brown, Head of Wealth Management at Saikyo Sakura Assets.
Saikyo Sakura Assets noted that other notable reasons which helped the Hang Seng rally were due to the growing optimism of a partial trade deal between Beijing and Washington and e-commerce giant Alibaba looking for a secondary listing within Hong Kong markets.
“Alongside positive news from trade talks, the election results have proven successful to end protests and restore stability within Hong Kong. Market sentiment has already reacted confidently to the news hence the rallies we see in the financial markets.” Added Frank Hunter, who heads up the Corporate Derivatives division at Saikyo Sakura Assets.
Shares within Hong Kong markets are expected to continue to rally over the foreseeable future, with new optimism over the forthcoming Sino-American trade deal and the start of the new council to restore peace on with the recent protests.
About Saikyo Sakura Assets
Saikyo Sakura Assets provides investment advisory services to private retail individuals and corporate institutions. Saikyo Sakura Assets currently holds over $6.32 billion U.S. dollars of assets under management. Established in 2011 the company operates from its headquarters based in Osaka, Japan, it also has a dedicated in-house research facility based in Busan, South Korea.
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www.ssaholding.com, +81-6-4560-4420, 26F Shin Daibiru Building,
2-1 Dojimahama, Kita-ku, Osaka, Japan.
KEYWORD: HONG KONG JAPAN ASIA PACIFIC
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Saikyo Sakura Assets
Copyright Business Wire 2019.
PUB: 11/25/2019 06:46 AM/DISC: 11/25/2019 06:46 AM