Hong Kong is turning to oil-rich Saudi Arabia for new funds to help offset the growing list of challenges facing its stock market.
The Saudi Tadawul Group and Hong Kong Exchanges & Clearing are co-hosting a conference on Thursday at a very opportune time as the city needs new stock listings and cash inflows to cement its status as a financial center. While Hong Kong will benefit from the forum, it will also involve an army of Saudi corporate officials seeking greater exposure to Asian investors.
“There is a strong political will pushing for this relationship between China and the Gulf states,” said Edmond Christou, an analyst at Bloomberg Intelligence in Dubai, who recently met with investors and companies in Hong Kong, Shanghai and Beijing. for companies in China you hear that customers are interested in investing in the Middle East. They are looking for ways to make that possible.”
