TNAG-2466-FCO40-3590-Economic-situation-in-Hong-Kong-1992 — Page 121

1992-02-14 15:58 INFORMATION SERVICES DEPT

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FROM: DIS (Jonathan Lange)

RPTD: Asia Today, Francis Ho (Industry) · DATE: February 14, 1992 PAGES: 4

LOG: OPRS/ /91

FINANCIAL ROUNDUP FOR FORTNIGHT ENDING FRIDAY, FEBRUARY 14. 1992

STOCK MARKET SURGES

The Hong Kong stock market has continued to make significant gains following a 189 per cent increase in the average daily turnover

January.

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month

Figures from the stock exchange show that total turnover last

HK$41.9 billion (US$5.4 billion),

(US$243 HK$1.9 billion million) per day. The daily average for January last year was just HK$660 million (US$84,6 million).

The Hang Seng Index climbed 7.08 per cent in January, outperformed by only two other major world stock markets, Germany and Taiwan.

Since the Chinese New Year holiday, turnover has continued topping HK$2 billion (US$256 million) on a number of occasions as bullish mood, evidenced at the end of 1991, extends into 1992.

surge

the

GDP UP 3.6%

real

Hong Kong's Gross Domestic Product (CDP) grew by 3.6 per cent in terms in the third quarter last year compared with the same period in 1990.

The preliminary estimate for the July to September period brings the virtually figure for the first nine months of 1991 to 3.8 per cent on line with the government's revised forecast of a four per cent GDP growth for the year.

In

domestic component of the GDP, gross domestic fixed capital

7.4 formation grew by a healthy 11.5 per cent compared with the

per cent and 10.9 per cent revised estimates for the first two quarters of the year.

On the external front, total exports registered a real growth rate 18.2 per cent, largely due to the 29.8 per cent growth in re-exports.

of

QDP TO GROW AT LEAST 7%?

A leading Singapore brokerage firm has predicted economy will grow at between seven and 7.5 per cent this above most forecasts of around five per cent.

that Hong Kong's year, well

In it's monthly review, Merri) Lynch, Pierce, Fenner and Smith believes growth will be sustained by a number of factors including a than strong performance in China, which it predicts will grow by more nine per cent.

Inc

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