Chinese and Hong Kong stocks ended 2023 as the world’s worst-performing equity markets, with losses exceeding 10%, although they recorded their best week in five months.
** China’s blue chip CSI 300 Index registered an unprecedented third straight year of declines amid the country’s faltering post-pandemic recovery and geopolitical tensions, but some see opportunities in the battered shares.
** “We have turned tactically positive on China,” Jefferies said in its 2024 outlook, citing Beijing’s economic stimulus, the rebounding yuan currency, and “trough valuation”.
** On Friday, the index rose 0.5%, and was up 2.8% for the week. Hong Kong’s Hang Seng Index ended the session flat, but registered a 4.3% weekly gain.
** However, the indexes sit at the bottom of the 2023 global performance rankings, with Hang Seng slumping 14% for the year in a fourth year of declines, and CSI 300 falling 11%.
** In contrast, the MSCI world equity…
