Hong Kong stocks, gold surge on first trading day of 2022

Hong Kong stocks, gold surge on first trading day of 2022

Financial Secretary Paul Chan Mo-po, fifth right, attends the Lunar New Year Market Open Celebration Ceremony and strikes a gong to mark the first trading day of the Year of the Rabbit on January 26, 2023. The Hong Kong Exchanges and Clearing Limited HKEX held a live opening ceremony on Thursday, the first time since 2020, to mark the beginning of the Year of the Rabbit, according to PHOTO HKSAR GOVERNMENT.

Hong Kong's stocks and gold went up on Thursday, with the Hang Seng Index gaining 341.72 points to open at 22,386. It was up 37 points while gold fetched HK $18,088 about $2,319 a tael, up HK $198 from its close last Friday.

The Chinese Gold and Silver Exchange Society, Hong Kong's gold operator, held a live opening ceremony on Thursday morning. Chan Kwok-ki, chief secretary for administration of the Hong Kong Special Administrative Region government, said at the ceremony that Hong Kong's status as an international financial center is rock solid and has a bright prospect.

As people, logistics and capital flows between the mainland and Hong Kong become more active, he believes that the gold and silver industry will make great achievements, and he believes that with the support of the country, the HKSAR government will try to strengthen the momentum of the financial sector.

Paul Chan Mo-po, financial secretary of the HKSAR government, said at the opening ceremony that Hong Kong's financial markets had shown great resilience in an orderly and stable manner despite the volatility in the global markets in the past year. In the Year of the Rabbit, he believed that Hong Kong's stock market will leap onto a new level.

The Hong Kong IPO market recovered in the second half of last year, and 10 new shares have been listed since the beginning of the year, according to Nicolas Aguzin, chief executive officer of the HKEX. Aguzin said that the HKEX will continue to help Chinese capital go global, bring Chinese opportunities to international investors, and find ways to enhance the attractiveness, vitality and diversity of the Hong Kong market.

READ MORE: HK economy, pillar businesses on the path to recovery.

Hong Kong's Hang Seng Index rose 522.13 points, or 2.37 percent, to close at 22,566. There were 78 points on Thursday.