China Shares Plunge to Lowest Valuation on Record in Hong Kong
- Hang Seng China Enterprises has slumped to lowest since GFC
- Unless China relaxes Covid Zero, hard to see catalysts: abrdn
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Grim milestones keep piling up for Chinese stocks listed in Hong Kong.
As September draws to an end, the Hang Seng China Enterprises Index has lost 14% to rank as the worst performer among major equity benchmarks globally this month. Hovering around the lowest since the global financial crisis, it is now trading at 0.6 times book value, the cheapest ever.