China stock investors eye better 2023 after USD 3.9trn rout
While China stock bulls had another miserable year, their fortunes may finally improve in 2023 if the nation’s abrupt reopening from Covid curbs eventually leads to a robust economic recovery.
By Charlotte Yang and Henry Ren /Bloomberg
The Hang Seng China Enterprises Index, which tracks Chinese firms listed in Hong Kong, just suffered a third straight year of declines, a record losing streak since its inception in 1994. The slump in 2022 was accompanied by spiking volatility that was the worst since the global financial crisis and ranked the highest among major benchmarks in the world. Combined losses from stocks traded on the mainland and in Hong Kong reached USD 3.9trn.
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