Hong Kong stock market suffered a significant downturn in 2008 under the global financial crisis, with the total market capitalization down 50 percent from 2007, the Hong Kong Exchanges and Clearing Limited (HKEx) announced Tuesday.
The securities market (including the Main Board and the Growth Enterprise Market (GEM)) at the end of 2008 was HK$10,298.8 billion (US$1,328 billion), said HKEx.
Single-day turnover in the securities market had its highest level of the year at HK$156.6 billion on Jan. 23, 2008 and its lowest level at HK$22.0 billion on Dec. 29, 2008.
Total securities market turnover in 2008 was HK$17,652.8 billion, a decrease of 19 percent compared with the year 2007.
A total of 49 companies were newly listed on the Main Board and GEM in 2008, raising HK$66.0 billion.
The Hang Seng Index (HSI) declined from its highest level of the year at 27,616 points on Jan. 9, 2008 to close the year at 14, 387 points, 48 percent lower than the previous year's closing.
At the end of 2008, the Hang Seng China Enterprises Index (H- shares Index) decreased year-on-year by 51 percent, closing at 7, 891 points. The Hang Seng China-Affiliated Corporations Index (the Red-Chips Index) ended the year at 3,292 points, a year-on-year decline of 46 percent, according to HKEx. (US$1 = HK$7.749)
(Xinhua News Agency March 4, 2009)
