MARKETS & INVESTING | Staff Reporter, Hong Kong

Hang Seng Index continues recovery with 6.8% gain in November

It could seal further muted gains by 2019.

Bloomberg reported that the Hang Seng Index sealed a 6.8% gain in November, sealing its continuous rebound and largest recovery in seven years as it also rose 10% back in October.

The consecutive recovery months gave hope after the worst losing streak for 36 years in Hong Kong’s stocks. Moreover, the bounceback had beaten all other stock benchmark and is even ahead of the MSCI All-Country World Index by the widest margin since April 2015 and had proven that Hong Kong’s bourse stood strong amidst the caution in China’s market and a tech rout that hit shares in the US.

Also read: Hong Kong bourse profits surged 20% to $2.4b in Q3

With this, strategists have been forecasting that Hong Kong stocks would approach muted gains by 2019. However, JPMorgan Chase & Co. think otherwise as they believe that Hong Kong’s stocks will be amongst the worst in Asia come 2019.

Here’s more from Bloomberg.

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