Most-hated stocks are HK’s biggest winners

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent in early trade while Japan's Nikkei bucked the trend and dipped 0.3 percent. (Investors look at an electronic board showing stock information at a brokerage house in Shanghai, China, March 7, 2016. - REUTERS)

HONG KONG: When it comes to this year’s surge in Hong Kong stocks, it paid to root for the underdog.

Equities with the lowest ratings from analysts have driven the market’s Asia-leading gains in 2017, streaking ahead of shares showered with buy recommendations, data compiled by Bloomberg show. While this is frustrating for stock strategists – and the investors who follow their advice – it reflects a pivot in the market’s focus as China’s economic recovery solidifies.