Hong Kong budget plans for real estate and finance sectors disappoint investors

THE Hong Kong Budget announced on Wednesday (Feb 26) by Financial Secretary Paul Chan is unlikely to sustain gains in the markets as investors hoped for more support for the finance and real estate markets, analysts said.

The Hang Seng Index rose 3.3 per cent or 753.91 points to close at 23,787.93.

The surge was led by tech companies as the Hang Seng Tech Index rose 4.5 per cent after Chan emphasised artificial intelligence as a core industry and pledged HK$1 billion (S$172.4 million) to establish an artificial intelligence research and development institute.