Rare signal suggests HK stock market has hit rock bottom

Rare signal suggests HK stock market has hit rock bottom

3 days ago

HONG KONG: A stock-market indicator is flashing an extremely rare signal that suggests Hong Kong has hit the bottom after years of Covid restrictions, a tech industry crackdown and a property-market implosion in China.

Strategists who study charts this week spotted an event that last happened 55 years ago: a so-called crossover on a graph that combines the speed and magnitude of price changes to assess whether a security is about to make a big turn. A very similar shift in 2009 marked the start of a multiyear bull run in the US.

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