The beer is flowing again at Hong Kong¡¯s Happy Valley Racecourse. Music pumps from clubs in the neon-streaked Lan Kwai Fong district. Even the Sevens ¡ª the annual rugby extravaganza that¡¯s captured this city¡¯s hyperkinetic lifestyle for decades ¡ª is back, finally.

After more than two years under Beijing¡¯s stringent pandemic rules, Hong Kong wants to prove that it can still be ¡°Asia¡¯s World City.¡±

The Hang Seng Index has found a footing after losing roughly half its value. Dealmakers say business is looking up at last.