Post by account_disabled on Feb 15, 2024 1:39:47 GMT -5
and returned to 16,000 points, but market participants were not optimistic about the long-term trend. The Hang Seng15,000 points on January 22. (Getty Images) Senior Hong Kong investor Lin Yiming wrote an article in the Hong Kong Economic Journal at the beginning of the month calling on him to "cherish life and stay away from Hong Kong stocks." He pointed out that from the perspective of wave theory, in the past, bear markets caused by crises such as the financial turmoil and the
collapse of Lehman Brothers lasted for one or two years at most before ending. However, the current Hong Kong stock market is a "slow bear" and the pattern is "one wave is lower than the next." , there may not be an Costa Rica Phone Number List end, and there will be a "dry decline" in which transactions continue to shrink. Lin Yiming pointed out that the fundamental problem behind this bear market is "soil deterioration." If Hong Kong transforms from an international financial center into an ordinary Chinese city , foreign capital will leave Hong Kong's financial market, and domestic companies will not raise funds in Hong Kong. "Profitability has always been the second factor
that affects the trend of the stock market. The first is the flow of funds. If funds want to leave, even if Tencent's PE drops to more than ten times and China's banks drop to three or four times, funds will still have to be sold. The market is still going to fall." In fact, the Hang Seng Index has fallen from 33,000 points in the past four years, hitting a low of 14,597 points at the end of October 2022. It has rebounded since then, but it has fallen by more than 30 since the beginning of 2023. During the same period, the US Dow Jones Industrial Average and the Indian Bombay Index However, it rose by more than 10, and the Taiwan Weighted Index and the Nikkei Index rose by 20 and nearly 40 respectively. Li Zhaobo, an honorary teaching and research scholar at the Asia-Pacific Business