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| Hong Kong the world's most economically confident city ( 02/01/2004 ) | |||||||||
Some 76 per cent of Hong Kong people believe that 2004 will be better than 2003, more than doubling last year's 32 per cent. The improved confidence comes on the back of a strong economic rebound in the second half of last year and underscores the public sentiment that Hong Kong's prospects are heading for better times. The Hang Seng Index closed on 31 December on an all time high, up 35 per cent on the year and represents its first annual gain since 1999. Seventeen analysts, strategists and fund managers interviewed by Hong Kong's daily newspaper, the South China Morning Post, resulted in an average estimate that the Hang Seng Index would rise by 12 per cent in 2004. In addition, conditions throughout the Hong Kong corporate sector improved for the seventh consecutive month in December, reflecting continuing economic strength, according to the findings of the Purchasing Managers' Index, a monthly survey of 300 companies. More details in Promising start as business confidence surges | |||||||||
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