UNCERTAINTY is the one thing Hong Kong has had to live with for much of its recent history.
During these countdown months to the handover of sovereignty to China, it has taken on a new importance.
It has shaped the perception of Hong Kong for many foreign investors - who remain wary about prospects after the transition - and regularly punctured the confidence of investors, for whom uncertainty spells potential peril.
During the past 12 months, the list of possible areas of concern which could undermine confidence has shortened. The performances of the stock and property markets are the best examples of how uncertainty has been replaced by a general sense of qualified confidence.
It is far too early to say there is a 'feel-good factor' at work, but there is most certainly a belief the pieces are being put in place for a far smoother transfer of power than could have been imagined by even the most optimistic observers a year ago.
Deng Xiaoping's imminent death and the immediate fallout from his passing was one of the many factors which clouded the outlook and helped foster concern over the past three years since his departure from the circle of power.
