BLACKPINK and David Beckham Couldn't Save Our Hong Kong Reopening Index

The thematic index down 8.9% in May yet up 6.8% in June so far

Please note: Any index mentioned here is for information and illustrative purposes only. An index itself does not constitute any actual fund, portfolio, trading strategy or financial product. It is not possible to invest directly in an index. We make no recommendation or offer to buy/sell any securities, portfolios of securities, investment schemes or trading strategies here. Past performance does not guarantee future results.

Our Hong Kong Reopening Select Index lost 8.9% in May. This compares to a 9.9% decline of the MSCI Hong Kong Index and an 8.4% correction of the Hang Seng Index. YTD the Reopening Index was down 6.3%, still beating MSCI Hong Kong by 5.3% and outperforming Hang Seng by 1.5% since the end of 2022.

We expect a “relief rally” in June, which is happening as we speak. As the Hong Kong market recovers, our Reopening Index has also gained 6.8% MTD.