If Carlson Tong is lucky, he may just have picked the right time to take over as chair of the Hong Kong stock exchange and try to revive animal spirits in the city that likes to bill itself as Asia’s financial centre.
In the week in which the board endorsed his appointment, Hong Kong’s benchmark Hang Seng index rose 8.8 per cent, its best weekly performance since late 2011.
On Tong’s side is the promise of further help from Beijing for the territory’s stock market. China’s securities regulator, announcing the moves earlier this month, underlined the importance of Hong Kong as a financial centre.
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