Posted 12/29/2023, 9:10:47 AM
Hong Kong Stocks Sink 14% in 2023, Extending Losses as Investors Flee Uncertainty
- Hong Kong's Hang Seng stock index fell 14% in 2023, making it one of the world's worst performing markets this year
- Hundreds of billions in foreign investments exited Hong Kong in 2023 due to China's economic downturn and U.S. pressure on investors
- Property crisis in China spilled over into Hong Kong, with real estate companies among worst performers
- Hong Kong's status as Asia's top financial hub has diminished over 4 straight years of stock market losses
- Uncertainty over China's economy and geopolitical tensions expected to keep volatility high in Hong Kong in 2024