(Feb 8): Hong Kong’s stock traders are about to find out whether the US$7.1 trillion market can hold its own without its biggest source of flows.
Starting Tuesday, trading links via Hong Kong’s exchange operator allowing mainland traders to buy domestic stocks will halt through Feb. 17th due to the Lunar New Year holiday. The stock connect closure will slam the brakes on record levels of inflows that helped propel Hong Kong’s equities market to its best start to a year since 1985.
Investors north of the border turned bargain hunters in late 2020 after valuations in some sectors onshore reached the highest in more than a decade. Mainland investors net bought a total of nearly US$48 billion worth of Hong Kong stocks in the first five weeks of this year, which is already more than half of 2020’s total.
(Bloomberg) Hong Kong’s stock traders are about to find out whether the $7.3 trillion market can hold its own without its biggest source of flows.Starting Tuesday, trading links via Hong Kong’s exchange operator allowing mainland traders to buy domestic stocks will halt through Feb. 17 due to the Lunar New Year holiday. The stock connect closure will slam the brakes on record levels of inflows that helped propel Hong Kong’s equities market to its best start to a year since 1985.Investors north of the border turned bargain hunters in late 2020 after valuations in some sectors onshore reached the highest in more than a decade. Mainland investors net bought nearly $48 billion worth of Hong Kong stocks in the first five weeks of this year, which is already more than half of 2020’s total. They continued buying the city’s stocks on Monday, with net purchases at HK$12 billion ($1.5 billion).“We think it might be worthwhile to take some profit ahead
China Digest: Hengsheng Medical, Hamedal in funding news
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Hengsheng Medical has raised nearly 300 million yuan ($46 million) in its Series A round from CMB International and CITIC Medial & Health, while Hamedal has garnered 100 million yuan ($15 million) in its Series A round led by GGV Capital.
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