Ma Tai-yeung: Capital 'Picks the Best to Devour', Underpinning Housing Market Fundamentals

Ma Tai-yeung notes that Hong Kong's 5.2 per cent economic growth in the third quarter beat expectations, and that Goldman Sachs has raised its forecast for this year's economic growth from 4.2 per cent to 5 per cent, reflecting foreign investors' vote of confidence in the city's economic outlook. He believes that the improved global political and economic atmosphere after the US midterm elections, together with the efforts of the central government's 'national team' and the effectiveness of the People's Bank of China's market-support strategy, have driven a rebound in mainland and Hong Kong financial markets over consecutive days, and that the wealth effect of the stock market recovery is expected to gradually transmit to the physical property market.