Not the time to buy properties in HK - New World Development
Updated
It is almost impossible to turn on the news or read the papers without seeing positive news on the political scene in Hong Kong. Videos, articles, analysts views, etc are filled with negativity.
One sector that got hit badly is the property market. New world development has declined more than 35% from its peak of 13.88 in April this year to current price of 10.34 and still dropping further.
When there is uncertainty in the market, traders will shun buying or worst, starts to dispose their holdings asap for fear of further deterioration.
If one followed these experts view, you would see your portfolio dug deep in the red.
cnbc.com/2019/10/31/it-might-be-time-for-bottom-fishing-hong-kong-stocks-barclays-says.html
Low can get lower and trying to catch a falling knife is not only dangerous but costly as well.
Short or stay away if you want to buy.
One sector that got hit badly is the property market. New world development has declined more than 35% from its peak of 13.88 in April this year to current price of 10.34 and still dropping further.
When there is uncertainty in the market, traders will shun buying or worst, starts to dispose their holdings asap for fear of further deterioration.
If one followed these experts view, you would see your portfolio dug deep in the red.
cnbc.com/2019/10/31/it-might-be-time-for-bottom-fishing-hong-kong-stocks-barclays-says.html
Low can get lower and trying to catch a falling knife is not only dangerous but costly as well.
Short or stay away if you want to buy.
Note
congrats if you short !Note
take partial or full profits as the price level is at a support zone now.Note
Praise Lord. You can take 50% profits or all, it is up to you. Selling pressure seems to eased for now and tomorrow, Trade with care.
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