The last year has been a torrid period for investors in Hong Kong/Chinese equities. Regional markets...
The last year has been a torrid period for investors in Hong Kong/Chinese equities. Regional markets enjoyed a major re-rating from May to July 2007, driven by earnings upgrades and optimism about future prospects. Equities then fell sharply in August before briefly recovering after the US Federal Reserve cut US interest rates. However, any recovery phase was short-lived and the market quickly resumed its downward trend in response to the credit crisis, worries about the risk of a US-led global economic recession and tighter-than-expected monetary policy in China. Mid-March marked the nadir...
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