Hong Kong stocks have lost more than one-tenth of their value over the last month, including a 2.1% decline on Tuesday, as investors fret about the city’s future after two months of unrest over local governance, reported Caixin.
At its current level, the benchmark Hang Seng Index now trades at about the same level where it began the year, wiping out a 20% rally that kicked off 2019 in tandem with a similar rise in stock markets on the Chinese mainland.
The Hang Seng China Enterprises Index of Chinese firms has lost 16% since its April high as of Tuesday morning, not far from entering a technical bear market, reported Caixin. The MSCI Hong Kong Index fell 2.1%. The gauge has fallen 14% since mid-July.