Hong Kong’s blue chip Hang Seng stock market ended down 14.4% to 19,781.4 in 2022, marking the worst year since 2011 with only South Korea’s Kospi down more out of the major Asian stock markets. On the last day of the trading year the Hang Seng was up +0.2% and +1.0% for the week. It has been a tumultuous year for Hong Kong investments and the third straight year of losses for the index. The damage from the implosion of the Chinese property sector and China’s Covid Zero policy overwhelmed the market. China abandoned the strict zero-COVID policy in late December as the virus spread rampant through the country.
2022 closed with busiest IPO Day Since 2020
Five companies started trading in Hong Kong on the last trading day of the year. It was the busiest day for new debutants since July 2020.
- AustAsia Group dropped 0.5 per cent to HK$6.37,
- Cryofocus Medtech slipped 6.6 per cent to HK$17.66
- Shandong Boan Biotechnology closed unchanged at HK$19.80.
- Super Hi International sold for HK$9.94 listed by way of introduction, involving no new stock offerings.
- Kingsoft Cloud sold for HK$2.10 also listed by way of introduction, involving no new stock offerings.
Top Performing Hong Kong Stocks for 2022
Macau casino operators and Chinese hotpot restaurant operators Haidilao have been the best performers in 2022.
- Sands China rose 43%
- Galaxy Entertainment rose 28%
- Haidilao rose 27
Worse Performing Hong Kong Stocks for 2022
- Sunny Optical Technology was the worst performer falling 62%
- Developer Country Garden down 58%
- Country Garden Services down 58%
Asia Pacific Region Equity Markets in 2022
- Japan’s Nikkei: (-0.5% for the week/-9.4% for the year)
- Hong Kong’s Hang Seng: (+1.0% for the week/-14.4% for the year)
- China’s Shanghai Composite: (+1.4% for the week/-15.1% for the year)
- India’s Sensex: (+1.7% for the week/+4.4% for the year)
- South Korea’s Kospi: (-3.3% for the week/-24.9% for the year)
- Australia’s S&P/ASX 200: (-0.9% for the week/-5.45% for the year)
How Global Indices fared in 2022
From The TradersCommunity News Desk