Hong Kong stocks are showing signs of life. After the popping of China’s equity bubble last summer helped make the Hang Seng Index the worst performer among global developed peers with a 36 percent drop from peak to trough, the gauge has rallied 13 percent from February’s low. Momentum indicators are the highest in at least seven months, while casino, energy and property stocks, which led last year’s slump, are the vanguard of the rebound.
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