Pes­simism on HK eq­uity mar­ket

The Star Malaysia - StarBiz - - Foreign News -

HONG KONG: Be­ing pessimistic has been the best way to play Hong Kong’s eq­uity mar­ket this year.

Af­ter the Hang Seng In­dex’s best start to a month since Oc­to­ber 2015, the city’s shares have given back those gains and are now in the red.

The gauge is trac­ing a pat­tern that it’s held since Oc­to­ber, tempt- ing bulls with a good week only to fall the next. The gauge sank 2.9% yes­ter­day, dip­ping be­low its 50-day mov­ing av­er­age af­ter trading above that sup­port line for eight con­sec­u­tive ses­sions.

Just last month im­prov­ing mo­men­tum turned the city into the world’s best place for eq­uity in­vestors. — Bloomberg

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