-- Hong Kong equities are rapidly turning into a losing bet as economic woes and escalating street protests hammer sentiment.
“There’s so much bad news,” said Ben Kwong, executive director at KGI Asia Ltd. in Hong Kong. “The protests are hurting economic activities in Hong Kong, there’s no progress on trade talks and the yuan just broke 7 per dollar. The selling momentum is still huge.” Louis Tse, a Hong Kong-based managing director at VC Asset Management Ltd., said the near-term outlook for the stock market depends on whether the benchmark Hang Seng Index stays above its June low of around 26,762. The gauge fell as much as 2.4% to 26,284 on Monday.
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