Hong Kong stocks are looking to post its first winning day of the new year, with mainland Chinese funds turning net buyers on Wednesday. Bullish sentiment around US and Asian markets may support gains.
Most China-based stock analysts and money managers cite geopolitical tensions, deflation and a possible US recession among the greatest threats to making money in 2024, according to a survey.
Local stocks are on a slippery slope, with the benchmark index heading for the longest slide since mid-August. Cross-strait tensions rise a notch as Taiwanese vote for a new president later this week.
Hong Kong stocks were on track for a loss in the first week of 2024, as a slowdown in China’s growth and longer than expected policy tightening in the US dented sentiment.
Hong Kong stocks decline for a third straight day as worries about China’s growth outlook lingers and traders tamp down their expectations about an imminent rate cut in the US.