Latest from Gigi Choy
Brazil has surpassed Italy as the country with the world’s third-highest coronavirus death toll, rising on figures released the same day as Mexico reported a record number of new Covid-19 cases. On June 4, 2020, Brazil’s health ministry reported a daily record of 1,473 fatalities, taking its total tally to more than 34,000 behind only the United States and the United Kingdom. Mexico reported a record daily tally of more than 1,000 deaths on June 4. Nations in Latin America are wrestling to reopen their economies despite the region still being a major pandemic hotspot.
Brazil has surpassed Italy as the country with the world’s third-highest coronavirus death toll, rising on figures released the same day as Mexico reported a record number of new Covid-19 cases. On June 4, 2020, Brazil’s health ministry reported a daily record of 1,473 fatalities, taking its total tally to more than 34,000 behind only the United States and the United Kingdom. Mexico reported a record daily tally of more than 1,000 deaths on June 4. Nations in Latin America are wrestling to reopen their economies despite the region still being a major pandemic hotspot.
In recent years, the organiser of the annual Tiananmen vigil in Hong Kong endured questions about its relevance from young people who slammed it for being ritualistic, naive and idealistic for caring about democratic change in mainland China.
In recent years, the organiser of the annual Tiananmen vigil in Hong Kong endured questions about its relevance from young people who slammed it for being ritualistic, naive and idealistic for caring about democratic change in mainland China.
Thousands of worshippers packed the Baiturrahman Grand Mosque in Indonesia's far western Aceh province to celebrate Eid ul-Fitr, the end of the holy fasting month of Ramadan. But this year’s festivities were a sombre affair amid the coronavirus pandemic, a stark contrast to those of previous years.
Thousands of worshippers packed the Baiturrahman Grand Mosque in Indonesia's far western Aceh province to celebrate Eid ul-Fitr, the end of the holy fasting month of Ramadan. But this year’s festivities were a sombre affair amid the coronavirus pandemic, a stark contrast to those of previous years.
India’s migrant workers are struggling to return home after a nationwide coronavirus lockdown, announced at just four hours' notice in late March, upended their lives and suddenly left them out of work. The world’s largest lockdown affecting 1.3 billion people was recently extended until May 31, 2020.
India’s migrant workers are struggling to return home after a nationwide coronavirus lockdown, announced at just four hours' notice in late March, upended their lives and suddenly left them out of work. The world’s largest lockdown affecting 1.3 billion people was recently extended until May 31, 2020.
China’s April industrial output beat expectations, while retail sales trailed economists’ projections
China’s April industrial output beat expectations, while retail sales trailed economists’ projections
The gaming giant has gained nearly 15 per cent this year, compared to the Hang Seng Index’s drop of 15 per cent.
The gaming giant has gained nearly 15 per cent this year, compared to the Hang Seng Index’s drop of 15 per cent.
Tencent beat first-quarter expectations, prompting bullish calls by Daiwa Capital Markets and Jefferies for the internet giant’s shares to rise to HK$515 – a 20 per cent jump from Thursday’s close.
Tencent beat first-quarter expectations, prompting bullish calls by Daiwa Capital Markets and Jefferies for the internet giant’s shares to rise to HK$515 – a 20 per cent jump from Thursday’s close.
The coronavirus continues to drive trading sentiment globally and in the Asia-Pacific region. But investors are also watching tensions between the US and China, which analysts expect to persist as Donald Trump faces a difficult bid for re-election as president in November.
The coronavirus continues to drive trading sentiment globally and in the Asia-Pacific region. But investors are also watching tensions between the US and China, which analysts expect to persist as Donald Trump faces a difficult bid for re-election as president in November.
Investors lack confidence that Hong Kong stocks will see long run-ups, leaving the index rangebound as traders take profits.
Investors lack confidence that Hong Kong stocks will see long run-ups, leaving the index rangebound as traders take profits.
Important note: Starting Wednesday, we will move from the Live Blog format to a more traditional article form that is updated regularly and contains the best of the elements of the Blog -- ratings changes, hot and cold stocks, IPOs, analyst commentary, charts, etc. Your newsletter will be renamed "Markets Today," and will come to you with the nuts and bolts of what you need to know each trading morning. See more details inside.
Important note: Starting Wednesday, we will move from the Live Blog format to a more traditional article form that is updated regularly and contains the best of the elements of the Blog -- ratings changes, hot and cold stocks, IPOs, analyst commentary, charts, etc. Your newsletter will be renamed "Markets Today," and will come to you with the nuts and bolts of what you need to know each trading morning. See more details inside.
“Hong Kong stocks followed the rally and optimistic sentiment of the US last Friday,” said Alan Li of Atta Capital. “ … HKEX [the stock operator] and tech stocks led the rally.”
“Hong Kong stocks followed the rally and optimistic sentiment of the US last Friday,” said Alan Li of Atta Capital. “ … HKEX [the stock operator] and tech stocks led the rally.”
Movie-related stocks jump as cinemas reopen in China and Hong Kong. Sunny Optical, Alibaba, Tencent also have great days.
Movie-related stocks jump as cinemas reopen in China and Hong Kong. Sunny Optical, Alibaba, Tencent also have great days.
US-China senior negotiators spoke by phone and “vowed to implement their trade deal and boost cooperation on public health”, the official Xinhua News Agency reported.
US-China senior negotiators spoke by phone and “vowed to implement their trade deal and boost cooperation on public health”, the official Xinhua News Agency reported.
Kweichow Moutai stayed above 1,300 yuan for a third day. The Hang Seng Index ended with a weekly loss after Monday's rout.
Kweichow Moutai stayed above 1,300 yuan for a third day. The Hang Seng Index ended with a weekly loss after Monday's rout.
Hong Kong Exchanges and Clearing, or HKEX, was the top loser among blue chips, as chief executive Charles Li Xiaojia said he will not seek reappointment next year and the stock market operator announced a 13 per cent decline in net profit in the first quarter.
Hong Kong Exchanges and Clearing, or HKEX, was the top loser among blue chips, as chief executive Charles Li Xiaojia said he will not seek reappointment next year and the stock market operator announced a 13 per cent decline in net profit in the first quarter.
Budweiser APAC posts painful net loss of US$41 million in first quarter. Coronavirus triggers China's weakest corporate earnings in a decade.
Budweiser APAC posts painful net loss of US$41 million in first quarter. Coronavirus triggers China's weakest corporate earnings in a decade.
Investors continued to brush off Monday’s rout, when the Hang Seng Index fell more than 1,000 points. Overall, Hong Kong sentiment has been positive, with the benchmark rising in seven of the last nine sessions.
Investors continued to brush off Monday’s rout, when the Hang Seng Index fell more than 1,000 points. Overall, Hong Kong sentiment has been positive, with the benchmark rising in seven of the last nine sessions.
Hong Kong investors piled into China’s largest chip maker -- Semiconductor Manufacturing International Corp (SMIC) -- on news it is planning an A-share listing in the mainland. They also bought up new economy stocks and smartphone parts makers.
Hong Kong investors piled into China’s largest chip maker -- Semiconductor Manufacturing International Corp (SMIC) -- on news it is planning an A-share listing in the mainland. They also bought up new economy stocks and smartphone parts makers.
“Market sentiment is still good, but there’s uncertainty on the US-China relationship,” said Alan Li, portfolio manager at Atta Capital.
“Market sentiment is still good, but there’s uncertainty on the US-China relationship,” said Alan Li, portfolio manager at Atta Capital.
Bargain hunters gobble up restaurant stocks as the city eases social-distancing rules. Tool maker Techtronic Industries powers its way to lead today's top blue chip gainers, as Daiwa Capital Markets reiterates its "buy" on the stock, saying it has been resilient during the coronavirus pandemic.
Bargain hunters gobble up restaurant stocks as the city eases social-distancing rules. Tool maker Techtronic Industries powers its way to lead today's top blue chip gainers, as Daiwa Capital Markets reiterates its "buy" on the stock, saying it has been resilient during the coronavirus pandemic.
Stocks in Hong Kong fell broadly on the first day of trading in May. Chinese oil players crashed, as did Chinese airlines. Even new economy darlings suffered, like Chinese e-medicine giants Ali Health and Ping An Good Doctor
Stocks in Hong Kong fell broadly on the first day of trading in May. Chinese oil players crashed, as did Chinese airlines. Even new economy darlings suffered, like Chinese e-medicine giants Ali Health and Ping An Good Doctor
Hong Kong stocks took a hard fall as US President Donald Trump threatened China over trade and the coronavirus outbreak. Oil shares were especially hammered, as the world drowns in cheap oil amid shrinking demand. The Hang Seng Index had its worst fall in six weeks.
Hong Kong stocks took a hard fall as US President Donald Trump threatened China over trade and the coronavirus outbreak. Oil shares were especially hammered, as the world drowns in cheap oil amid shrinking demand. The Hang Seng Index had its worst fall in six weeks.
Shares have been pounded by the trade war, protests and the coronavirus. But they gained in four of the past six sessions. And, in a real head-turner, Sa Sa got its first “buy” rating from an analyst tracked by Bloomberg in nearly two years.
Shares have been pounded by the trade war, protests and the coronavirus. But they gained in four of the past six sessions. And, in a real head-turner, Sa Sa got its first “buy” rating from an analyst tracked by Bloomberg in nearly two years.
The Hang Seng Index has bounced back 13.6 per cent as of Wednesday’s close from its March 23 low. The Hang Seng Index netted a 4.4 per cent monthly gain in April. It fell nearly 10 per cent in March amid virus panic selling.
The Hang Seng Index has bounced back 13.6 per cent as of Wednesday’s close from its March 23 low. The Hang Seng Index netted a 4.4 per cent monthly gain in April. It fell nearly 10 per cent in March amid virus panic selling.
Standard Chartered beats analysts estimates, stocks soars. JD.com said to file US$2 billion secondary listing in Hong Kong.
Standard Chartered beats analysts estimates, stocks soars. JD.com said to file US$2 billion secondary listing in Hong Kong.
Investors are closely monitoring news of vaccines – one could be available as early as this year for vulnerable groups such as health care workers, Bloomberg reported.
Investors are closely monitoring news of vaccines – one could be available as early as this year for vulnerable groups such as health care workers, Bloomberg reported.
Kweichow Moutai gained after reporting its net profit rose 16.7 per cent in first quarter despite the lockdown in China. HSBC rises despite reporting a 48 per cent drop in pre-tax profit in the first quarter.
Kweichow Moutai gained after reporting its net profit rose 16.7 per cent in first quarter despite the lockdown in China. HSBC rises despite reporting a 48 per cent drop in pre-tax profit in the first quarter.
“Bad economic data in the first half is acceptable and expected by the market and already priced in,” said Alan Li, portfolio manager at Atta Capital. “People are looking forward to the recovery.”
“Bad economic data in the first half is acceptable and expected by the market and already priced in,” said Alan Li, portfolio manager at Atta Capital. “People are looking forward to the recovery.”
Is there any stopping China’s e-pharmaceutical giant Ali Health? It has shot up more than 70 per cent over the past five weeks and soared again today. Meanwhile, CanSino Biologics -- it surged on possible coronavirus vaccine clinical trials in Canada.
Is there any stopping China’s e-pharmaceutical giant Ali Health? It has shot up more than 70 per cent over the past five weeks and soared again today. Meanwhile, CanSino Biologics -- it surged on possible coronavirus vaccine clinical trials in Canada.
Chinese cancer drugs developer Akeso soared in its Hong Kong debut. Ali Health, the Chinese e-pharmacy platform tumbled 6.4 per cent on profit taking. But that still left it ahead 65 per cent in a run-up over the past five weeks.
Chinese cancer drugs developer Akeso soared in its Hong Kong debut. Ali Health, the Chinese e-pharmacy platform tumbled 6.4 per cent on profit taking. But that still left it ahead 65 per cent in a run-up over the past five weeks.