Hong Kong’s markets have long been where east, or at least China, has met west and from where companies called Trillion Trophy Asia or Sparkle Roll, which may sound unconventional to western ears, bid for the likes of Birmingham City Football Club or Bang & Olufsen. The city also represents the best way of gaining broad exposure to China without facing the extreme peaks and troughs of mainland markets driven by retail investors. Or at least it did, until its main China index last week started diverging sharply from Shanghai and Shenzhen.
香港市場長期以來一直是東方（或至少是中國）與西方的相遇之處，也是Trillion Trophy Asia或耀萊集團(Sparkle Roll)——一個西方人聽起來可能不尋常的名字——等企業(yè)競購伯明翰城足球俱樂部(Birmingham City Football Club )或Bang & Olufsen等企業(yè)的地方。這座城市還代表著獲得對中國廣泛敞口、而無需面臨內(nèi)地股市由散戶投資者驅(qū)動的大上大下波動的最佳方式。至少曾經(jīng)如此，直到上周香港股市主要中國指數(shù)與滬深兩市開始大幅分離。