Hang Seng Index on the verge of bear market, funds abandon Hong Kong to speculate on Japanese and Korean stocks.

June 27, 2026

Hang Seng Index Nears Bear Market, Funds Abandon Hong Kong for Japanese and Korean Stocks

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Hang Seng Index fell below the 23,000-point mark, accumulating a drop of nearly 20% from its high in January this year, about to enter a technical bear market, and continuing to set the longest losing streak since 2015. Michael Burry, the prototype of the protagonist in the movie 'The Big Short' and legendary hedge fund manager, said that the decline in Hong Kong stocks was mainly triggered by technical pressure, as funds withdrew from the Hong Kong market and turned to Japanese and Korean stocks. He expects selling pressure to continue, but hinted that his fund may increase holdings including Alibaba(0 ...

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