Hong Kong Economic Growth Exceeds Estimates as Outlook Upgraded.

Hong Kong's economy expanded faster than expected in the second quarter, leading to an upward revision of the official full-year growth forecast. Rising asset prices, including home values, and strong consumer spending backed by low unemployment are driving performance in the former British colony. "In view of the likely positive developments on both the external and domestic fronts, the Hong Kong economy is expected to attain further solid growth in the rest of the year", the government said in a statement. [Extracted from the article]