The prospects for Hong Kong stocks are seen as brightening significantly, as the US$5 trillion market has attracted global investors looking to rotate out of their holdings in US and Japanese shares.

Quick Summary:

Hong Kong stocks emerged as the best-performing key market globally in April, after funds sought bargains by shifting out of expensive US and Japanese equities and as China’s growth shows more signs of stabilising.

Even after the gains, the Hang Seng Index is valued at 6.3 times realised earnings, the lowest in the world, according to Bloomberg data.

Elevated valuations reduce the appeal of US and Japanese stocks in particular, and make them vulnerable to any negative news headlines at a time when the Federal Reserve might hold interest rates high for longer to cool sticky inflation.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong KongChinaIndiaJapanUnited States

Topics: Kong’s Month Seng Hang Kong Index Global Chinese Market Stocks Hong

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-30 @ 15:10:38 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 650 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 37 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 20835258

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