GEM really is a gem

Hong Kong''s GEM market is one of the best markets in Asia, despite the poor performance of some of the companies listed there.

Hong Kong's Growth Enterprise Market GEM has quickly acquired the soubriquet The World's Worst Performing Market. It is the kind of glib simplification that many practitioners of my profession are wont to make. Using cliches saves people - especially journalists - from having to think for themselves.

But the trouble with simplifications such as the one above is that they tend to miss the point entirely. While the GEM market index might indeed be the worst performing index...

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