Oct 08, 2024 08:57 PM

Analysis: Was China’s Stock Market Rally Reflected Across the Economy?

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This year’s National Day holiday followed the announcement of a slew of policies aimed at stabilizing growth, which significantly boosted the Hang Seng Tech Index and the Hang Seng China Enterprises Index last week, making them frontrunners among major global assets.

(Editor’s note: The Hang Seng Tech Index represents the 30 largest technology companies listed in Hong Kong that pass the index’s screening criteria. The Hang Seng China Enterprises Index reflects the overall performance of Chinese mainland stocks listed in Hong Kong.)

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Policy changes in China's major cities led to increased property sales, particularly for second-hand homes, which saw a 164.3% rise year-on-year in 26 cities during early October.
Tourism reached a record high with around 1.46 billion trips taken during the National Day holiday, boosted by increased inbound travel to destinations like Guangzhou and Xi’an.
Despite increased bookings for flights and hotels, tourist spending remained cautious, with a preference for cost-effective options and a limited impact from recent stimulus policies.

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