Topic

Stocksi

Stock market action from around the world, with a focus on Hong Kong, China and the rest of Asia.

Advertisement

Attracting listings to the bourse from Southeast Asia, the Middle East and other regions, and introducing trading when typhoon signal No 8 is in force are at the top of his list.

  • China’s aggregate financing, fell by almost 200 billion yuan (US$28 billion) from the preceding month in April, data showed, suggesting weak credit demand
  • Alibaba Group Holding, Tencent Holdings and Meituan, are due to report first-quarter earnings during the week

In an attempt to limit the impact of data showing foreign funds selling on market sentiment, Shanghai and Shenzhen exchanges plan to cease displaying real-time figures on purchases or sales of local stocks through trading links with Hong Kong.

Two regions can revitalise historical connections through financial collaboration, but more understanding is needed, says a director with index provider MSCI.

Advertisement
Advertisement

Insurer has sold about 5.6 million HSBC shares, reducing its stake in the lender to 7.98 per cent from 8.01 per cent, according to an exchange filing.

Geely Auto’s premium EV unit raised US$441 million by upsizing its IPO by 20 per cent to accommodate demand, according to two sources. The stock is due to debut in New York on Friday.

videocam

Harvest CEO Han Tongli said he ‘doesn’t rule out’ applying to get the spot crypto ETFs on the Stock Connect scheme as long as ‘everything goes smooth’ in the next two years.

Hong Kong stocks rise driven by economic optimism after policy loosening measures announced by nearly 60 Chinese cities targeted the floundering property market with upbeat trade data providing a further boost.

Investors should exercise caution while chasing Chinese stocks, among the best performers globally last month, amid technical signs the market is in overbought territory, US investment bank says in report.

‘Earnings are set to pick up as property activity stabilises and inflation recovery fuels household income and consumer spending growth,’ UBS strategist Meng Lei says.

Chinese regulators are scrutinising old business deals and bank accounts of senior executives as they ramp up inspections of stock-listing hopefuls. No companies have lodged IPO plans in Shanghai and Shenzhen this year.

videocam

Hong Kong stocks fell for the second straight day on Wednesday as investors awaited trade data which is expected to show both exports and imports returned to expansion territory in April, following a contraction in the previous month.

Swiss financial firm EFG has increased its investment in Chinese and other non-Japan Asian stocks, on expectations of steady growth in the region and driven by the belief the worst was over for stocks in China.

Hong Kong stocks decline from an eight-month high as traders cash in on the market bull run, while robust mainland tourism data for the holiday period fails to lift sentiment.

videocam

Investor sentiment has turned positive after a clutch of global investment banks made positive calls on Chinese stocks amid expectations of more policy support from Beijing.

Hong Kong’s Exchange Fund, the war chest used to defend the local currency, continued its comeback in the first quarter, posting a return of HK$54.3 billion (US$7 billion) as rising overseas stock markets offset losses in domestic equities.

videocam

Investment banks including Goldman Sachs, UBS and BNP have become more positive on Chinese stocks, with foreign selling having subsided. But the property crisis, deflationary risks and tepid consumer demand mean global investors are yet to go all ‘all in’.

A dovish US Federal Reserve and a gigantic share buy-back programme from Apple lifted Hong Kong stocks with sentiment remaining upbeat after China’s top policymakers signalled further support to economic growth.

Mainland China investors will gain access to Hong Kong’s Reits via an expanded mutual market access scheme in a move which will deepen the market, enhance its liquidity and attract international issuers, analysts say.

Hong Kong kept its key interest rate unchanged for a sixth consecutive time in lockstep with the Federal Reserve’s overnight decision, with sticky US inflation forcing investors to delay rate cut bets.

Foreign investors loaded up on Chinese stocks for a third straight month in April, adding to evidence that global fund managers have become more positive about the world’s second-largest market.

Despite being touted as Hollywood’s latest miracle diet pill, Ozempic’s downsides include a gaunt-looking face … but there are ways to avoid it

Six bitcoin and ether ETFs saw US$12 million in trading on Tuesday, compared with US$4.6 billion for US bitcoin ETFs on their first day.

videocam

Hong Kong stocks emerged as the best-performing key market globally in April, after funds sought bargains by shifting out of expensive US and Japanese equities and as China’s growth shows more signs of stabilising.