SHANGHAI: Chinese investors more than doubled their Hong Kong stocks purchases this year, braving market headwinds from violent street protests and the protracted Sino-U.S. trade war, which have battered the Asian financial hub's economy.
The months-long protests and their hit to sectors including tourism, retail and real estate have all contributed to the benchmark Hang Seng index's global underperformance this year. For firms dual-listed in mainland China and Hong Kong, the latest AH premium index indicates Hong Kong-listed shares are more than 20 per cent cheaper on average than their mainland peers.China's No. 2 telecom equipment maker, ZTE, for example, on Wednesday, traded at 31.18 yuan in Shenzhen, while selling at HK$20.9 in Hong Kong, representing a near 40 per cent 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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