We knew that Hong Kong would never be the same again under Chinese rule but I don’t believe many people expected its share market to halve since early 2021 making the pullback due to Covid appear irrelevant on the charts. While I’m sure the index will experience plenty of volatility and bounces along the way a test of its GFC lows is now in sight and hard to ignore.
- We so no reason to try and pick the bottom in this beast which has halved from last year’s high.
MM is neutral to bearish the Hang Seng
