What Gloom? Hong Kong Stocks Turn Positive for 2016: Chartby
Hong Kong’s retail sales are plunging the most since 1999, home prices have fallen 13 percent from last year’s peak and public confidence in the future of the former British colony is the lowest in more than a decade. Yet optimism in stocks traded in the city is growing, with the MSCI Hong Kong Index turning positive this year for the first time to break above its key 200-day moving average. Macau casino operators and property companies have led a 16% rebound in the gauge since its January low.