At the start of 2021, Hong Kong was the best-performing stock market in Asia, undermining concerns that China’s tough new national security legislation would hinder the territory’s position as a global financial centre.
In January, Hong Kong’s Hang Seng Index grew 6.4%, while the MSCI Asia Index, which covers developed and emerging market countries in the region, increased 3.9% during the month. However, the Hang Seng has now fallen 11% year-to-date, while the MSCI Asia Index has maintained the same growth rate.
