Hong Kong’s bull market is leaving China behind, in a sign that a lacklustre economic recovery and trade tensions with the US have weighed on investor sentiment in the mainland.
Equities in mainland China are flat so far this year, compared with a 20 per cent gain for Hong Kong’s Hang Seng index, the city’s biggest year-to-date outperformance against the mainland since 2008.
Hong Kong’s bull run has been driven by record investment flows from mainland China amid post-DeepSeek enthusiasm for technology companies such as Alibaba and Tencent, which are not listed on the mainland.
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