Another miserable year sees HSI decline 13.8 percent
The Hang Seng Index on Friday ended 2023 with an annual loss of 13.8 percent, the worst performance of any major Asia-Pacific market. The index has declined for an unprecedented four years in a row. "There are very few overseas investors investing in Hong Kong right now," CEO of GEO Securities, Francis Lun told RTHK. "So, first of all, the economy of China and Hong Kong must perform better, and also the listed companies, especially the leaders, like Tencent and Alibaba, must do better to gain investors' confidence. Otherwise, our stock market will be mired in the doldrums for years to come," he added.  Meanwhile, executive director at Kingston Securities, Dickie Wong, forecast an improvement next year, with anticipated US interest rate cuts expected to bring positive sentiment to equity markets.