(Bloomberg) -- Hong Kong stocks may be poised for a near-term rebound after the aggressive selloff on Wednesday, if history is a guide.
The Hang Seng Index slumped 3.7% — the most in nearly 15 months — with all of its 82 members ending lower. That has pushed the gauge into oversold territory for the first time since August.
ADVERTISEMENT
In previous such selloffs, the index has gained an average of 3.7% and 5.3% over the following 10 and 20 days, respectively, according to Bloomberg-compiled data going back a decade. Such instances have occurred 19 times during that period.
X
More stories like this are available on bloomberg.com
©2024 Bloomberg L.P.
Add us to your Preferences
Set as your preferred source on Google
ADVERTISEMENT
RECOMMENDED FOR YOU
Morgan Stanley Eclipses Goldman as Top Asia Equity Deal Arranger
Who Is Jimmy Lai? The Media Moghul Who Was Found Guilty In Hong Kong
Trump Says He Feels ‘Badly’ About Jimmy Lai After Guilty Verdict
JPMorgan Private Bank Favors Indian Stocks Over China On Value
POPULAR
1
Ambuja–ACC Merger: Share Swap Details, Valuations And Analyst Views — All You Need To Know
2
Canara HSBC Life Gets 'Buy' Rating As Investec Initiates Coverage
3
Stock Market Live Updates: GIFT Nifty Indicates Positive Open; Cipla, Ambuja Cements, Groww, Paytm In Focus
4
Gold And Silver Prices Surge — Check Latest Rates In Mumbai, Delhi, And Other Cities
5