Expected Xi Visit to Hong Kong Boosts Optimism in City’s Stocks
- Hang Seng China index beating all major gauges since mid May
- President could endorse Hong Kong in a speech, professor says
Chinese President Xi Jinping
Photographer: Greg Baker/AFP/Getty Images
Hong Kong’s stocks are already rebounding at the fastest pace in the world, and a possible visit by Chinese President Xi Jinping in a few weeks may provide even more buying momentum.
Signs are growing that Xi will join a July 1 ceremony to swear in new leader John Lee as well as celebrate 25 years of Chinese rule following the handover from Britain in 1997. The South China Morning Post reported this week that Hong Kong is preparing to isolate some 1,000 people involved in the city’s handover anniversary in anticipation of a Xi’s arrival, including Lee and current leader Carrie Lam. A Hong Kong school is asking some students to undergo a week-long hotel quarantine to greet visiting dignitaries.