HONG KONG — One of the world’s biggest laggards in major global stock indexes in 2020 is the best performer so far this year, thanks to a deluge of Chinese money. Hong Kong’s Hang Seng Index on Monday closed above 30,000 points for the first time in 20 months as a rally since late December powered by investors in mainland China gains momentum.
Most signs suggest Chinese hunger for Hong Kong stocks will continue for the time being, with investors buying new-economy shares, such as Tencent Holdings, and stocks in other companies including China Mobile and Xiaomi.
Those and other shares were dumped earlier this month after the U.S. imposed an investment ban on companies identified as having links to the country’s military and are shifting out of mainland-listed A-shares to buy the cheaper Hong Kong-listed H-shares of mainland companies traded in the territory. Read more…..
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A wave of mockery erupted in China over the storming of the Hill by Trump supporters on January 6, 2021. Chinese state media, officials and online users tracked developments and compared the events with the anti-government protests in Hong Kong in 2019.