, Columnist
A Bottom for Hong Kong?
The market is trading at global crisis levels and below most Asian valuations.
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As Hong Kong stocks slip deeper into a bear market, there are signs the rout is overdone. The Hang Seng Index, which has dropped about 22 percent in the past 12 months, is now the cheapest in Asia by dividend yield and price/earnings ratio.
Whether investors are seeing buy signals could depend more on their views on China's economy and U.S. interest rates than on standard metrics, but if history is any guide, stocks may be near bottom.