Hang Seng index enters a period of stable disequilibrium
The Hang Seng index fell sharply, retreating to H$20,000, down over 11% from its year-to-date high. This decline is attributed to China's modest growth forecast and the Federal Reserve's hawkish stance on interest rates. All stocks in the index dropped, with CSPC Pharma and Country Garden Services among the worst performers. The index is expected to continue its bearish trend, potentially falling to H$18,670.
