Bear Market Looms for Chinese Equities as Investors Lose Faith
- Chinese equities underperform in Asia once again on Monday
- Slow recovery, geopolitical tensions are among top concerns
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A gauge of Chinese shares traded in Hong Kong inched closer to a bear market as a wobbling economic recovery, intensifying geopolitical tensions and a weaker yuan kept investors away.
The Hang Seng China Enterprises Index slumped 1.3% on Monday, taking its losses from a Jan. 27 peak to a whisker away from reaching 20%. Meituan was the biggest drag amid concerns that increased competition will dent the e-commerce firm’s profitability.