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| Screen shot from Bloomberg of the Hang Seng Index today |
This graph is somewhat alarming -- the Hang Seng Index falling below 15,000 points today.
It's now at the same level as it was during the handover in 1997. The Hang Seng Index has lost almost 13 percent this year in the market's worst start to a year since 2016.
"It's capitulation," said Dickie Wong, executive director at Kingston Securities. "No matter what the central bank does, it will not change the fact that foreign investors have zero confidence in this market now."
Yikes.
Part of the bearish market is due to China refusing to stimulate the economy by pumping money into it, while its property market is still struggling.
The trading session has just ended, with the markets closing at 14,951.70.
Not a good Monday...
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