HONG KONG, Oct 25 (Reuters) - Hong Kong's efforts to revive its shrinking stock market are mere stopgap solutions, as analysts say a reversal in fortunes for Asia's premier financial hub would not be possible without a major improvement in China's economic prospects.
With a market value of around $4.3 trillion, Hong Kong is home to one of the top-ranked stock markets globally just behind those in the United States, Japan, China and Europe.
New share offerings in Hong Kong have fizzled.
Local media reported that a record 47 of the 638 trading participants on the Hong Kong exchange shut shop last year.
Chinese firms listed in Hong Kong, such as tech giants Tencent (0700.HK) and Alibaba (9988.HK), comprise the bulk of the turnover on the Hong Kong exchange, leaving Hong Kong hostage to China's fortunes.
Persons:
Hong, John Lee, Dickie Wong, Rob Brewis, Aubrey, Eddie Tam, Alvin Cheung, Cheung, ”, Alex Wong, Alex KY, Wong, who'd, Summer Zhen, Xie Yu, Vidya Ranganathan
Organizations:
Nasdaq, Kingston Securities, Seng China Enterprises, HK, Aubrey Capital Management, Hong, Asset Investments, Prudential, Asset Management Company, Global, Thomson
Locations:
HONG KONG, China, Hong Kong, United States, Japan, Europe, Shenzhen