The Exchange Square Complex, which houses the Hong Kong Stock Exchange, in Hong Kong, on July 13, 2022. Photo: Bloomberg
The Exchange Square Complex, which houses the Hong Kong Stock Exchange, in Hong Kong, on July 13, 2022. Photo: Bloomberg

Alibaba, Tencent lead market rebound on China rate-cut hopes after slowdown hits corporate earnings

  • China’s biggest commercial banks are expected to cut their lending rates at this month’s setting, according to market consensus
  • Orient Overseas surges more than 6 per cent after profit doubled, and Xiaomi and China Merchants also log gains before their interim report cards later Friday

The Exchange Square Complex, which houses the Hong Kong Stock Exchange, in Hong Kong, on July 13, 2022. Photo: Bloomberg
The Exchange Square Complex, which houses the Hong Kong Stock Exchange, in Hong Kong, on July 13, 2022. Photo: Bloomberg
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