Are A-shares dragging down Hong Kong stocks?

Fears that Hong Kong’s stock market is reacting more to Beijing’s policies rather than to company fundamentals may lose their bite in the wake of the mainland’s stock-market rescue. Vincent Kwan, general manager of Hang Seng Indexes, said the markets had behaved very differently over the summer. “In Hong Kong, the same companies [as listed in mainland China] trading as H-shares are traded very differently, and driven by factors such as fundamentals.” Since the opening of Shangha…