Hong Kong’s Hang Seng delivers a terrific January – with an 8 per cent gain
- Hang Seng is red hot after the nightmare of 2018
- Shanghai Composite ends first month of new year up 3.6 per cent
Last year was a nightmare for investors. But the main benchmarks of Hong Kong and mainland China gave investors plenty of love in the first month of the new year.
Hong Kong’s Hang Seng shot up 8 per cent in January, after suffering a loss of 15 per cent over all of last year.
On Thursday, the Hang Seng closed at the highest level in four months – 27,942.47, or a 1.1 per cent gain.
Meanwhile, the Shanghai Composite Index was up 3.6 per cent in January. Last year, it was the world’s worst performing market – down by 25 per cent. It closed on Thursday up 0.4 per cent, like the Hang Seng closing out the month on a positive note.
Mainland China markets did so well in January that the country reclaimed its title as home to the world’s second-largest stock market, wresting the title from Japan.