Last week the Hang Seng Index experienced its worst plunge since the terrorist attacks of September 11, 2001, driven by questions about the future of the China growth story and nervousness regarding the likelihood of a recession in the US. However, a number of brokerages remain optimistic that Hong Kong equities could still be an attractive story.
The Hang Seng Index shed more than 5.6% or 1,386 points on Wednesday, after the US markets lost 2.2% the night before. The DowÆs fall was led by Citi which was hammered on the announcement of its fourth-quarter losses and an $18.1 billion write-down owing to subprime woes.
The Hong Kong market recovered on Thursday in anticipation...
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