ReallyVeryFoolish wrote:Having sold HSBA a while ago but bought back into them in December 2019 (often a bad idea in my book) I dumped them overboard yesterday morning and replaced them with M&G (MNG). The share price trajectory of both those companies is very similar having both lost money a similar amount since December 2019. As a candidate for the world's worst share trader it was nice to see a blue day for MNG share price after I bought. Usually when I buy the share price drops.
I gave up on HSBA due to the political sideshow in Hong Kong that looks likely to be far from over yet. It was another mistake of mine buying back into HSBA having previously got out. We live and we learn.
Seems I am not the only one worried about business in Hong Kong, from the FT -
“Hong Kong as we know it is dead,” said an adviser who works with hedge funds in the city and elsewhere in the region. “It will become just another city in China. The hedge fund community will move on to Singapore and elsewhere,” added the adviser, who like many in the industry requested anonymity in order to speak freely.
To perhaps access the article without an FT account try googling for the words - "Hong Kong hedge funds eye exit as national security law looms"