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00:00Saying that it's the Hang Seng index is performing the worst out of all the chief executives at 10 years. I think the best performing stock is leaning over a thousand percent up during Carrie Lam's administration. Yeah you know what's really going to be I guess critical would be what what the next I say I would even say 10 years looks like because I mean the composition stay out the index from nineteen ninety seven has changed substantially. So you know what used to be property and value plays is really now. A lot of it is new technology new new economy and tax. I think that's really one thing to keep in mind when you sort of just compare across you know quite a long period of time across four. And you know we mentioned during Carry Lab just to be more specific than say under Carol Massar during CAC lab twenty seventeen to two to now. I mean we're down 13 percent and a Hang Seng index overall over twenty five years were up what I think when price forty four percent in terms of total returns to be more specific. If he had reinvested your dividends you're up over 200 percent. But again to be more specific when you look at the last five years a lot of things happened. Right. And most of them were really just not really good for sentiment. You had you had to trade market can and then you had to protest and then you had a pandemic. Simultaneously the tech crackdown and then we moved into the tightening cycle of the Fed. So not exactly conducive here for for risk taking if you will which is why you understand when you look at say relative performance across the different years calendar year 2017 was good because that's when we had the global bull market and 20 22 so far the first half has been okay because of the rebound we've seen recently. But in between all those factors I mentioned really contributing to those returns that we had between 2018 or non-existent returns to 2021. Guys Dave what's worth noting is that Chinese companies trading in Hong Kong are pretty much dominating the market. Yes. Yes. Already now. I think if I remember my our stats that we laid out earlier in the week correctly I think it was out of five hundred seventy or five hundred eighty listed companies overall back in 97 under 30 were domiciled on the mainland. Fast forward to today and eight hundred listings later that number is now gone up to about 30 percent of about about a couple of thousand companies. So I think about over 800 mainland domiciled companies are now listed here in Hong Kong as a percentage of market cap. I think that's more substantial for investors and fund allocators. It's about 4 trillion out of five and a half trillion market cap. So the vast majority of your exposure in the Hong Kong equity market isn't a lot of ways exposed to what happens just across the border. Becky ISE.

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How H.K.'s Stock Market Performed During Carrie Lam's Term?

How did Hong Kong's stock market perform during former Chief Executive Carrie Lam's term? Bloomberg's David Ingles looks at the data and marks the key nuances on "Bloomberg Markets: Asia." (Source: Bloomberg)

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