The Job of a Hong Kong Stock Analyst Has Rarely Been This Tough

Posted by Ed 18 mths ago
Equity traders cheering the prospect of a restoration of stability in Hong Kong keep getting disappointed.

Stocks slipped Tuesday as the city’s leader Carrie Lam offered no new concessions in her first public comments since Sunday’s vote. It follows Monday’s 1.5% gain in the Hang Seng Index, partly triggered by a landslide election victory for pro-democracy forces.
Some analysts were predicting that the results would force the government to address the issues that have fueled the unrest.

It’s getting increasingly difficult to have a view on Hong Kong’s equity market. Despite violent street protests and events such as a university siege, stocks have shown a tendency to revert to the mean for the better part of four months.
The Hang Seng Index is almost three times as volatile as when protests began in early June, even though the index is basically flat. 

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