China Shares Plunge to Lowest Valuation on Record in Hong Kong

(Bloomberg) — Grim milestones keep piling up for Chinese stocks listed in Hong Kong.

As September draws to an end, the Hang Seng China Enterprises Index has lost more than 14% to rank as the worst performer among major equity benchmarks globally this month. Hovering around the lowest since the global financial crisis, it is now trading at 0.6 times book value, the cheapest ever.

All but three stocks are down the year on the 50-member gauge, with property developers and tech companies at the…

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