Economies: HK and UK Markets maintain upward trend
With widespread media coverage of returning consumer confidence, and pockets of good news from around the globe, two indices that depend on international trade more than domestic consumption provide a fascinating picture - particularly as both are former industrialised economies now dependent on services for survival.
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Neither the UK nor Hong Kong makes much any more - but both own companies around the world that do, and which sell all over the world. Domestic markets, except for financial services and property, are not big drivers for either market.
And so, these markets are indicators of how global thinking is going, much more than the markets in the US or Japan.
UK Hong Kong share markets mid July 2009
The broadly similar changes indicate a similarity in sentiment, tempered perhaps with the different buying patterns of local shareholders where HK tends to be more volatile due to day trading - a habit on local markets for decades before the internet opened up the idea to a wider market.
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