Real Estate

It might be time for ‘bottom-fishing’ Hong Kong stocks, Barclays says

0


It might be time to go “bottom fishing” for Hong Kong stocks, according to Barclays’ head of markets for Asia Pacific, as the unrest in the embattled city drags on, which has hit businesses badly.

Barclays’ Matt Pecot told CNBC at the Barclays Asia Forum on Thursday: “I think a lot of investors have chosen to steer clear … property stocks, a lot of your hotel stocks have corrected pretty dramatically.”

The months-long protests in the city have affected retailers, airlines and property companies, among other industries.

Tourist arrivals have plunged — overall September arrivals declined 34% year over year — while hotel occupancy rates have slumped. Hong Kong’s August retail sales were…



Source cnbc.com

Wall Street analysts react to Apple’s earnings report

Previous article

Dunkin’ misses US same-store sales estimates

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Real Estate