In yet another sign of the building confidence among global investors that central banks will soon roll out measures to boost economies, Hong Kong stocks were close to entering a bull market Thursday.
The Hang Seng Index HSI, +0.81% was last up 0.6% at 22003.65, having risen in six of the past seven trading sessions. Property and financial stocks propelled the benchmark’s recent gains, with those sectors up 2.5% and 1.5%, respectively, this week.
Hong Kong’s equity gains in the morning tilt the Hang Seng Index into positive returns for the year to date, and it is up more than 20% from its low in mid-February. If it keeps the gains to the close, it will enter bull market territory.