Lots of HK stocks have been down for quite a lot since this year. It is not hard to find a stock that has gone down 30% to 50% this year. And last week, even big name stocks like China Communications Construction (1800) was getting washed out — it was down around 10% in one day.
Are people capitulating? The market sentiment is definitely not good. But it seems like at least the first stage of bear market has passed and gone – people are no longer thinking that stocks will rebound and they will sell immediately once the stocks are rebound. People are finally believing that they are losing money.
What a change in sentiment from last year to this year!
