The recommendations of the Hong Kong government’s task force to promote listing and trading in the stock market failed to address the fundamental problem, which is that the market is trading at too low a valuation (“HK task force calls for push to win Middle Eastern listings”, Report, November 29). Companies going public would certainly want to sell their shares at the highest possible valuation, and the Hong Kong stock market is not providing that. The Hong Kong government has not done enough to allay international investors’ concerns about the risks associated with the Hong Kong stock market.
On Thursday, Nov. 30, U.S. stock markets closed mixed, with the Dow Jones Industrial Average gaining more than 500 points. In economic data, The U.S. October personal consumption expenditure price index remained stable, following September’s 0.4% increase. Annual core PCE inflation decreased to 3.5% from 3.7%. U.S. jobless claims increased to 218,000 for the week ending Nov. 25, up from 211,000 the prior week and below the 220,000 forecast. Chicago PMI jumped to 55.8 in November from 44 in Octob