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The huge selling pressure coming for Hong Kong's equity market

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The huge selling pressure coming for Hong Kong's equity market HongKong stocks

While the benchmark Hang Seng Index has lost 3.9 per cent in May, its performance stands out against the 6.3 per cent decline for China's CSI 300 Index.[HONG KONG] The apparent resilience of Hong Kong's equity market faces a big test as markets reopen Tuesday.

While the benchmark Hang Seng Index has lost 3.9 per cent in May, its performance stands out against the 6.3 per cent decline for China's CSI 300 Index. On top of that, a weaker yuan weighs on earnings for Chinese heavyweights listed in the city. Investors were unprepared last week for a surge in volatility, with hedging costs near the lowest in 15 months.

Short selling turnover in Hong Kong's main board has been increasing since early May. It accounted for about 15 per cent of total turnover in the city on Friday, the highest in more than two weeks.

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