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Hang Seng index closes at lowest level since November, enters bear market

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The Hang Seng is down by more than 20% from the February high

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There are a couple of unsettling charts on risk sentiment right now and this now adds to the list, with Hong Kong stocks sliding by 1.8% on the day – keeping with the more negative tone over the past week.

The close in the Hang Seng at 24,849.72 is the lowest since 4 November and marks a more than 20% drop from the February high, entering a bear market by definition.

Daily support from the July low is somewhat holding for now but a break there will exacerbate downside worries in what is already a jittery period for Chinese equities.

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