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Bets against Hong Kong reach new extremes in financial markets

Investor confidence in Hong Kong is dwindling as the government loses its grip on an escalating outbreak of the Omicron variant of SARS-CoV-2. Bearish bets against Hong Kong’s shares have climbed to records and the benchmark Hang Seng Index is near a two-year low. Residents are converting the local currency into China’s yuan at the fastest pace in more than a decade, while the Hong Kong dollar is moving toward the weak end of its trading band against the greenback. Even the territory’s t...
Hong Kong United States Uju Wang Laura Cha Simon Powell Johns Hopkins University

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