SINGAPORE (Jan 8): Backed by a global cyclical recovery and China’s soft landing, positive market sentiment fuelled the Hang Seng Index’s astonishing rally last year. The index surged more than 35% in 2017 to 29,919 points, making it the best-performing market in Asia. Although nearly one-third of the index’s full-year gain came from Tencent Holdings — which is the largest index component, with an 11.8% weightage — the synchronised global recovery and earnings improvement across the board is likely to drive the index’s rally well into 2018.

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