Hong Kong Shares Go to First From Worst on China Rebound
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Hong Kong stocks are beating every market in Asia as China’s economy strengthens, rebounding from the biggest drop among developed world shares in the first half.
The Hang Seng Index surged 16 percent from its June 24 low through last week, outpacing the 14 percent climb for the Shanghai Composite Index, the next-biggest gain among Asian benchmark gauges in the period, data compiled by Bloomberg show. Even after the rally, Hong Kong’s index traded at 10.9 times estimated earnings on Sept. 13, the lowest in global developed markets behind Israel.