Mainland investors have been undeterred, though, seeing opportunities to buy on the dip when the overall appetite for risk is dampened and valuations of Hong Kong stocks hover near three-year lows.
China’s No. 2 telecom equipment maker, ZTE Corp, for example, on Wednesday, traded at 31.18 yuan in Shenzhen, while selling at HK$20.9 in Hong Kong, representing a near 40% discount. Among mainland investors’ darlings, Chinese food-delivery giant Meituan Dianping has seen its share price more than double this year, with upward momentum enhanced by its inclusion in the Stock Connect scheme.
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