China's World-Beating Stock Rally Puts Hong Kong in the Dust
- Mainland investors are starting to look to south for bargains
- Analysts say A shares should continue to outperform Hong Kong
Pedestrians walk in the Lujiazui district of Shanghai, China.
Photographer: Qilai Shen/Bloomberg
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Hong Kong equity investors must be looking enviously across the border this year.
The city’s two main benchmarks are hardly doing badly, but gauges on the mainland -- after a grim 2018 -- are eclipsing them and just about every other worldwide. The ChiNext in Shenzhen has led the charge with a 35 percent rally. While onshore shares slid on Wednesday in a volatile trading day, the renewed enthusiasm for yuan-denominated stocks means the Hang Seng Index is lagging the Shanghai Composite this quarter by the most since 2015.