Hong Kong's Fragile Stock Rebound Revealed in Tumbling Turnover
- City's equity turnover slid to 1 1/2-year low last week
- Investors doubt China's recovery can continue: strategist
The Hong Kong Convention and Exhibition Centre, center bottom, and other buildings stand in Hong Kong, China, on Wednesday, April 6, 2016. Cash is pouring into Hong Kong stocks from across the mainland border.
Photographer: Justin Chin/BloombergThis article is for subscribers only.
The 15 percent rebound in Hong Kong’s stock market is doing little to excite investors.
Even as the Hang Seng Index climbed to a 2016 high last month, the average value of shares traded in the city has collapsed to the least in 1 1/2 years. For Daniel So, a strategist at CMB International Securities Ltd. in Hong Kong, the waning turnover shows asset managers aren’t convinced that an improvement in China’s economic figures for March will prove sustainable.