Hong Kong’s benchmark stock index just closed in a bear market as China’s economy wavers

• Hong Kong’s benchmark Hang Seng Index closed 20% lower from its most recent high on Friday.
• That puts it in bear market territory, with investors growing cautious on Chinese investments.
• China’s economy is facing a troubled property market, deflation, and weak trade.

The Hang Seng Index, Hong Kong’s benchmark, declined 2.1%, hitting 17,950.85 to close in bear market territory on Friday, down more than 20% from its most recent high in January.  

Growing concerns around China’s ailing economy have made investors more cautious around Chinese investments, and the index has declined 5.9% since last Friday. Key names on the exchange including Tencent, Alibaba, and HSBC moved lower 2.34%, 3.44%, and 1.1%, respectively.