Stocks in Hong Kong rebounded for a second day as traders deemed the market’s slump this week to the lowest level in 14 months as excessive. Some valuation measures reached near all-time lows.The Hang Seng Index climbed 0.6 per cent to 15,483.85 as of...
The fate of mostly Chinese companies represented on the Hang Seng Index in Hong Kong is far worse.Their average price-to-book value stood at 0.85 times on Wednesday, near the record-low of 0.82 times reported in October 2022. The measure peaked at 1.56 times in April...
Hong Kong stocks halt four-day rout as market’s slump to 14-month low deemed excessiveHong Kong stocks rebounded on speculation a four-day rout in the city’s benchmark index was excessive. A technical indicator indicated the market was oversold and due for a reversal.The Hang Seng...
More global fund managers are turning away from Chinese stocks due to “chronic disappointment” with the economic outlook and market slump, trimming their allocations by the most since April, according to a Bank of America survey. Japan remains the undisputed favourite market.Investors cut the...
Hong Kong stocks slumped to the lowest in more than 14 months after a government report on growth in China’s economy trailed market consensus and home prices slipped. Fund managers are trimming their allocations on Chinese companies, with policymakers hobbled by inadequate monetary stimulus.The...
Hong Kong stocks declined for a third day before a key release of 2023 economic data that is expected paint a mixed picture for China’s recovery.The Hang Seng Index fell 0.2 per cent to 16,182.02 as of 10am local time to hover around a...
Hong Kong stocks jumped, snapping a seven-day slide, after mainland Chinese fund managers added to their purchases as the market reached the lowest level since November 2022 this week. Sentiment improved amid bullish trades in US and Asian equities.The Hang Seng Index added 1.4...
China’s stock market suffers from a lack of positive drivers as the new year begins and Beijing’s support efforts are likely to keep falling flat amid persistent risks, according to analysts and money managers.Geopolitical tensions, China deflation and a possible US recession are seen...
Hong Kong stocks fell for a seventh day as strategists at Citigroup and HSBC lowered their upside targets amid worries about interest rates and China’s weak economic recovery. China cranked up cross-strait tensions ahead of a presidential election in Taiwan.The Hang Seng Index declined...
Citigroup has reined in its forecasts for a rally in Hong Kong’s most valuable stocks following a dismal start to the new year, with higher borrowing costs and China’s weak economic recovery undermining the outlook for corporate earnings.The Hang Seng Index, which tracks 82...