Insight Turning negative equity into US$30bil market cap

Interesting market: A sculpture stands in front of the Exchange Square complex. Hong Kong’s stock market is an interesting hybrid, part-American because of the Hong Kong dollar peg, and part-Chinese because many mainland companies list there. — Bloomberg

FOR weeks, those of us in Asia watched the US stock frenzy with amazement – how a video game-like trading interface could lure millennials, cost fortunes and some even their lives; how Tesla Inc founder Elon Musk became richer than Warren Buffett; and why on earth retail investors were rushing to buy shares of Hertz Global Holdings Inc, even though the car rental company had filed for bankruptcy.

Well, gawk no more. The mania has landed in Hong Kong, too.