Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Alex Ng is the founder and head of research of the economic and investment research house Fortress Hill Advisors. Prior to founding Fortress Hill Advisors, he worked as an economic research analyst across government, academic, and financial institutes including the Hong Kong Financial Secretary’s Office (Office of the Government Economist), Economic Research Center of the Institute of Asia-Pacific Studies at CUHK, and State Street Global Markets. Alex holds a Master of Arts in Economics degree from Columbia University in the City of New York and a Bachelor of Arts in Economics and Mathematics from Wesleyan University (CT, USA).

Our firm's expertise lies in macroeconomics, global macro,  global thematic research, company and equity research, multi-asset strategy, event driven, and ESG.

We also do proprietary trading on the firm's capital, to try to vindicate our investment thesis. Our flagship publication, Heard from Fortress Hill (HFFH) provides our weekly market observations and is freely available on our website: https://fortresshill-advisors.com/hffh/

Founder & Head of Research

Hong Kong: How Much GDP Is Deduced from the Northern Spending of Hong Kong Residents

New World Development - Tear Sheet - Lucror Analytics

Fortress Hill Advisors

Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

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Macroeconomics

<ul>
<li>In June 2024, the Hong Kong Service PMI improved to 49.6, up from 43.9 in May. This indicates that while the sector is contracting, the contraction rate has slowed significantly.</li>
<li>Unemployment levels remained stable. Additionally, there was an increase in input cost inflation, and business confidence reached a five-month high​​.</li>
<li>Though the services PMI improves, long-run factors such as northward spending of residents, outflow of human labours, and corrections in housing sector will continue to weigh on the economy</li>
</ul>


In June 2024, the Hong Kong Service PMI improved to 49.6, up from 43.9 in May. This indicates that while the sector is contracting, the contraction rate has slowed significantly.
Unemployment levels remained stable. Additionally, there was an increase in input cost inflation, and business confidence reached a five-month high​​.
Though the services PMI improves, long-run factors such as northward spending of residents, outflow of human labours, and corrections in housing sector will continue to weigh on the economy


Hong Kong Services PMI: True Recovery or One-Off Improvement?