Chart of the Day: Bear Market Grips Hong Kong Stocks
Hong Kong’s Hang Seng Index entered a bear market on Tuesday after the benchmark finished the day down more than 20% from a recent high in January.
The index closed at 26,422.55 on Tuesday, plumbing a low not seen since July 2017.
Graphic: Gao Baiyu/Caixin
A stock market typically enters a bear market after it falls more than 20% from its recent high. This year’s plunge in the Hang Seng mirrors the drop in the Chinese mainland’s benchmark Shanghai Stock Exchange Composite Index, which has been in a bear market since June. Index compiler MSCI’s flagship emerging markets index entered a bear market in August.
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