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Louise Moon

Deb Price

Good day, traders.
Shanghai shook off a two-day losing streak, ending up 1.9 per cent. Hong Kong also gained.
Catch up on the day's action below. If you have questions, please shoot them to deb.price@scmp.com .
-- Louise Moon and Deb Price in Hong Kong 
 


Hong Kong stocks hit 7-week high as investors diversify into Chinese tech names

Hong Kong stocks close near 7-week high as Kuaishou surges, oil firms drop

Hong Kong to boost tech, financial services integration during AI boom: Paul Chan

Turning point: China doubles IPOs in 2025 amid eased curbs to drive tech innovation

Stocks

Stocks Blog: Shanghai snaps two-day losing streak; Hong Kong also advances

A pedestrian walks past the Bund Bull statue in Shanghai on October 24, 2018. Photo: Bloomberg 


Photo: Alamy

Trade war to rescue China’s stalling car firms as Beijing considers stimulus to boost domestic consumption

Heightened expectations around stimulus mean it has been priced in by the market, with automobile stocks outperforming the Shanghai Composite Index amid an escalating trade war. Photo: Xinhua

Business

Markets

Alibaba, Tencent to report earnings tonight
Unpredictable Donald Trump says trade impasse will 'turn out extremely well'


Alibaba, Tencent to report earnings tonight


China markets

Hong Kong stock exchange

China economy

Live

Here's what we are watching this morning:
Overnight markets/ What futures foretell
-- Overnight in US markets, S&P 500 gained 0.8 per cent,  Nasdaq jumped 1.1 per cent, and the Dow Jones Industrial Average was up 0.8 per cent.
-- Hong Kong futures are up 0.2 per cent to 27,914, while the China A50 futures are down 0.59 per cent to 12,722.12.
IPO debuts:
None
Economic statistics/Central Bank action:
10am: China April industrial production and retail sales.
11am: China selling 5-year and 2-year upsized government bonds
Corporate events: earnings, meetings, news conferences
Tencent (700 HK) and Alibaba (BABA US) earnings after market close. CK Infrastructure Holdings (1038 HK) and Hong Kong Electric (2638 HK) annual general meetings.
Good reads: China’s embattled automobiles sector is banking on Beijing to rescue it with the introduction of strong incentives, reports Daniel Ren. The Hang Seng Indexes launched new benchmarks on socially responsible investment and innovative companies in the Greater Bay Area, reports Enoch Yiu. And our tech colleagues put together a nice look at Alibaba, Tencent (both reporting tonight) and Baidu (on Thursday) earnings and what they may tell us about how trade tensions are impacting Chinese consumer sentiment. 


Morning guidance 

E-commerce giant Alibaba and Internet titan Tencent report quarterly earnings tonight. Both will be looked at as a way to see how the US-China trade is affecting consumer sentiment.
Investors will be parsing Tencent’s earnings for games and advertising growth, amid an easing of regulatory pressure but rising macro headwinds, the SCMP tech team reports. Although Tencent’s stock price has recovered from 2018 lows amid a resumption in gaming approvals by regulatory authorities, analysts advise taking a long-term view.
“We’re not expecting rapid growth in the first quarter since the base last year, before the freeze on game approvals, was quite high,” said Norman Hui, a Hong Kong-based analyst with Zhongtai International Securities.
Meanwhile, Alibaba -- which is the parent company of the SCMP -- may offer updates on its offline-to-online supermarket concept Hema and food delivery service Ele.me, which is engaged in an expensive market share war with Meituan Dianping.
Read full story here. 
 


Alibaba, Tencent to report earnings tonight

Hong Kong’s Hang Seng opened up 0.17 per cent to 28,171.32, following a jolt in markets overnight in the US in which all three benchmarks rose.
On the mainland, the Shanghai Composite rose 0.7 per cent at open to 2,902.64, while the CSI 300 gained 0.9 per cent to 3,674.99.
-- Louise Moon 


Hong Kong, mainland markets open up 

Markets will remain volatile, creating opportunities for traders, says Jing Ning, portfolio manager for investment management company Fidelity International.
“The China-US trade issue will dominate investor sentiment for some time, and the key is that the longer-term relationship between the two nation is likely to be blurrier, without clear collaboration or cooperation between them,” she said.
“In the shorter-term, we expect markets to remain volatile. It is not necessarily negative for investors, given the opportunity set that arises due to volatility,” she added.
-- Louise Moon 


Crystal Ball: Markets to remain volatile, setting up opportunities, says Jing Ning of Fidelity

CK Hutchison Holdings (1 HK) may be hiding US$7.4 billion in debt, according to GMT Research.
GMT said accounting adjustments linked to billionaire Li Ka-shing's company's purchase of mobile operator Wind Tre SpA and the "residual impact" from its 2015 reorganization boosted its  profit by about HK$13.2 billion, or 38 percent, according to a Bloomberg news story on the claim.
CK Hutchison "rejects any innuendo or suggestion of accounting irregularity," it said in a statement.
Its shares are trading down slightly, by 0.2 per cent, to HK$78.65.

 


CK Hutchison denies report it may be hiding US$7.4 billion in debt

*China's April retail sales grow 7.2 per cent from last year, versus estimate of 8.6 per cent increase. This was the lowest figure since May 2003, which was 4.3 per cent.
*China's fixed asset investments for the first four months rose 6.1 per cent from the same period in 2018, versus forecast of 6.4 per cent increase.
*China January-April retail sales rise 8.0 percent year-on-year, versus estimate of 8.4 per cent.
 


China retail sales growth comes in way below estimates

PetroChina (0857 HK) gained 1 per cent to HK$4.60 in early morning trading, after Goldman Sachs analyst Mark Wiseman upgraded it to “buy”.
Earlier in May, the investment bank had lowered its target price for the stock to HK$5.90 from HK$6, maintaining its “neutral” rating, due to mixed results in the first quarter of the year, declining oil prices and disappointing downstream margin.
-- Louise Moon 


PetroChina rises after Goldman Sachs upgrade to 'buy'

Tencent rose 1.4 per cent to HK$375.80 in morning trading ahead of its earnings report this evening.
Marketing intelligence company Sensor Tower said its new game, Game for Peace, earned HK$20 million in five days, according to Bloomberg.
Of analysts surveyed by Bloomberg, 52 call Tencent a buy, six a hold and none a sell. Its consensus target price is HK$428.60, which would be a 15.6 per cent rise over the coming 12 months.
-- Louise Moon and Deb Price
 


Tencent jumps ahead of tonight's earnings report 

China’s industrial production for April – the output of the industrial sectors in China’s economy, including manufacturing – fell to 5.4 per cent, from 8.5 per cent in March.
Within that, the manufacturing sector rose by 5.3 per cent year-on-year, which was down by 8.5 per cent from last month. This is set to spark fears over the ability of Chinese producers to deal with an intensifying trade war with the US, which will see them facing higher tariffs for both imports and exports where US suppliers or buyers are concerned.
-- Louise Moon 


China's industrial production for April falls dramatically

China’s fixed asset investments for the first four months of the year rose 6.1 per cent from the same period in 2018, below a forecast of a 6.4 per cent increase.
Fixed asset investments is the buying of physical assets like machinery, land, vehicles and buildings. A decrease in figures could show businesses and individual consumers are less willing to spend, amid trade war pressures.
-- Louise Moon


China's fixed asset investment slows 

China’s embattled auto sector is banking on Beijing to rescue it with the introduction of strong incentives as the country seeks ways to shake off the gloom surrounding its escalating trade war with the United States, Daniel Ren reports.
Last month, passenger car sales stood at 1.51 million units, a decline of 16.9 per cent from the same period in 2018, according to the China Passenger Car Association. More importantly, April was also the eleventh consecutive month of sales declines for an industry that represents about 6 per cent of China’s economic output.
And industry officials now expect Beijing, as well as local governments, to implement new policies to support the sector. These policies could range from cash subsidies, tax reductions and incentives to boosting second-hand car sales.
Read full story here. 


China car sector expects a government rescue 

Samsonite International (1910 HK) fell 8.7 per cent to HK$18.80, its lowest level since August 2013, after it posted a sharp fall in quarterly earnings to the stock exchange on Tuesday evening.
The world’s largest travel luggage company reported a 48.2 per cent drop in net profit for the first quarter of the year, from January to March, compared to an 18.6 per cent rise a year earlier. Net sales also fell 6.3 per cent, compared to last year’s 21.1 per cent jump.
Samsonite said its North American market was impacted by economic headwinds caused by the US-China trade war, and reduced tourist arrivals, while its Asian market saw a decrease in business-to-business orders and weak consumer sentiment in China over trade war concerns.
Net sales in Asia alone decreased by 5.3 per cent, or US$17.2 million for the first three months of 2019.
-- Louise Moon


Samsonite shares take a quick trip down after poor quarterly earnings

China’s economy grew at a slower pace in April, the last month before new US trade war tariffs take effect, with both industrial production and retail sales growth posting significant declines, Finbarr Bermingham reports.
The big picture to be gleaned from Wednesday’s data dump is that China’s economy is losing the momentum it gained in the first quarter, at a time when it is being sucked into an ever-intensifying trade war with the US. Over the past week, the world’s two largest economies have exchanged tit-for-tat tariffs, as it looked like chances of a near-term trade deal – which had appeared to be growing only two weeks ago – have dwindled.
The weak data are also likely to rekindle the debate over whether the Chinese government needs to enact more fiscal and monetary stimulus to prop up the economy. After the stronger-than-expected first quarter GDP figure, the Politburo had downgraded the need for further stimulus.
Industrial production – a measure of the output of the industrial sectors in China’s economy, including manufacturing, mining and utilities – grew by 5.4 per cent in April from a year earlier. This was well down from 8.5 per cent in March and below a poll of economists conducted by Bloomberg, which had predicted growth of 6.5 per cent. This was also the lowest reading since November last year.
Within the industrial sector, manufacturing output grew by 5.3 per cent year-on-year, down from 8.5 per cent last month. This will spark fears over the ability of Chinese producers to deal with an escalating trade war with the US, which will see them pay higher tariffs both for imports and exports where US suppliers or buyers are involved.
Read full story here.


China economy grows at slower pace in April

Xiaomi (1810 HK) jumped 3.4 per cent to HK$10.46 in morning trading after all of its top management was re-elected as well as PricewaterhouseCoopers as the company’s auditors at the Tuesday annual general meeting.
Also, investment bank Goldman Sachs notified of the termination of 100 million bull contracts in relation to the Chinese electronics giant.
Times of India reported that Lei Jun, the founder of Xiaomi, said the company is set to launch a range of new products in India where it leads in smartphone sales. In an interview with the newspaper, Jun said he believes growing US-China trade tensions could see Chinese investments increasingly flow towards India.
-- Louise Moon


Xiaomi jumps after top management re-elected 

Hong Kong-listed healthcare firm Beijing Enterprises Medical and Health Industry Group (2389 HK) soared 17.5 per cent to HK$0.275 in morning trading, its highest since last November. On Tuesday evening, the company said it intends to buy stakes in and form strategic cooperation with cannabis producer Weed Me.
Strategic cooperation would relate to geriatric care, such as treating Alzheimer’s disease with industrial cannabis extracts. Management of Weed Me would also be invited to join the group.
Private, Canada-based Weed Me produces, processes and sells industrial cannabis for medical use. Beijing Enterprises said the move is an aim to diversify its business portfolio and open up to more sources of income.
The medical cannabis market in Asia could exceed US$5.8 billion by 2024 if it is legalised across the region, but further legalisation is not likely in China and Hong Kong in the near future, according to a new research report by Prohibition Partners.
-- Louise Moon 


 Beijing Enterprises Medical and Health soars on deal with cannabis producer

CK Asset Holdings (1113 HK), one of Hong Kong’s biggest developers, dropped 0.7 per cent to HK$60.75 after Bloomberg reported it is considering selling its stake in a large project in Shanghai, quoting people familiar with the matter.
The project started construction in 2011 and was set as one of the largest mixed-use developments in the financial hub. CK Asset has a 60 per cent interest, and a sale could value the entire project at around 20 billion yuan (US$2.9 billion), according to Bloomberg. It would be one of the biggest commercial property deals in China.
In a statement, CK Asset said it "receives proposals all the time, but it does not mean the company will accept [the proposal] or sell the project."
-- Louise Moon 


CK Asset slips on report it may sell stake in large Shanghai project

China's biggest bridesmaid dress maker KNT Holdings (1025 HK) crashed 82 per cent to HK$0.92, wiping out all the gains since its IPO two and half months ago.
Hong Kong's stock regulator issued a warning in March against the company's "highly concentrated" ownership structure, saying it might cause large fluctuations in share prices with just a small amount of trading.
Twenty shareholders control 93 per cent of the company. Among them, chairman Zhuang Shuo and his brother Zhuang Bin own a combined 75 per cent.
It listed on February 28 on the main board, pricing its IPO at HK$0.98 per share and raising HK$127 million (US$16.2 million).
-- Laura He


Bridesmaid dress maker KNT plummets 82 per cent

Healthcare was propping up the Hang Seng in the morning session, rising 2.53 per cent. Sino Biopharmaceutical (1177 HK) was a top leader on the bourse, jumping 4.2 per cent to HK$7.74.

On May 10, the company announced its subsidiary, Chia-Tai Tianqing Pharmaceutical Group, Ambrisentan Tablet, had obtained registration for its drug, Ambrisentan Tablet, which treats a type of high blood pressure, from China’s National Medical Products Administration.
Sino shot up almost 5 per cent that day, but gains faltered on Tuesday alongside market worries about the US-China trade war. It regained momentum today.
-- Louise Moon 


Sino Biopharmaceutical shoots up 4.2 per cent

Chinese equities rebounded after two straight days of losses, after Trump softened his rhetoric over the US-China trade war and said the situation would turn out “extremely well”, helping to ease worries.
The Shanghai Composite closed for lunch up 1.1 per cent to 2,915.28, while the CSI 300 of large caps in Shenzhen and Shanghai gained 1.3 per cent to 3,694.30.
Hong Kong's market was also up, after losses Tuesday. The Hang Seng rose 0.7 per cent to take a midday break at 28,326.32.
-- Louise Moon


Chinese, Hong Kong stocks up at lunch break 

Frontage, a Pennsylvania-based drug service unit of Chinese pharma maker Tigermed, launched a Hong Kong initial public offering Tuesday to raise up to HK$1.6 billion (US$205 million).
At a pricing range of HK$2.55 and HK$3.2 per share, Frontage plans to issue 501.91 million shares. It is seeking a valuation of between US$652 million to US$819 million.
The company started taking institutional orders today, and will take retail orders from Friday. The stock is expected to start trading on May 30 on Hong Kong’s main board.
Frontage has already lined up US$85 million from three cornerstone investors.
Chinese private equity fund Hillhouse Capital has committed US$50 million worth of shares. Shanghai-based Greenwoods Asset Management has agreed to invest US$20 million. US healthcare investment fund OrbiMed has subscribed US$15 million.
Frontage, founded in 2001 in New Jersey by Dr. Song Li, is a contract research organisation (CRO) providing drug development support for pharmaceutical manufacturers.
In 2014, Hangzhou Tigermed Consulting bought a majority stake at Frontage for US$50 million. Tigermed jumped 2.5 per cent on Tuesday to trade at 67.34 yuan on the Shenzhen Stock Exchange.
-- Laura He 


Frontage launches Hong Kong IPO

If trade tensions continue to escalate, expect Beijing to step up policy easing, says HSBC economist Chen Jingyang.
He was not overly concerned by the drop in manufacturing investment and industrial production growth out of China today. 
Industrial production – a measure of the output of the industrial sectors in China’s economy, including manufacturing, mining and utilities – grew by 5.4 per cent in April from a year earlier. That was well down from 8.5 per cent in March and below a poll of economists conducted by Bloomberg, which had predicted growth of 6.5 per cent. This was also the lowest reading since November last year.
"The fluctuations in manufacturing investment and IP readings were partly due to a payback from the front-loading ahead of the VAT (value-added tax) cut on 1 April," said Chen. "Going forward, key downside risks still come from the external side, including slower global economic growth and renewed uncertainties over trade tensions. If trade tensions continue to escalate, Beijing will likely step up policy easing. Key to this will be doubling down the support for the private business sector. This should help to offset near-term headwinds to growth and reinforce private sector growth in the medium term. The exact magnitude will depend on how trade talk progresses."
Retail sales growth was also down. The measure of consumer demand in China grew by 7.2 per cent in April from a year earlier. This was lower than the expected figure of 8.6 per cent and points to slowing consumption in the world’s most populous nation.
"The moderation in retail sales growth was quite broad-based in April, with growth decelerating in sales of home appliances, furniture, and communication appliances etc.," Chen said in an emailed note. "The deceleration was mainly attributed to fewer holidays in April this year as compared to 2018, according to the National Bureau Statistics. After adjusted with holidays, retail sales growth came in at 8.7% y-o-y in April, which is the same as the growth rate in March."
-- Eugene Tang


Downside risks for China come from slower global growth, trade uncertainties, HSBC says

China's data dump wasn't pleasant news. Yet both mainland and Hong Kong markets are up.
Kenny Tang Sing-hing, chief executive of China Hong Kong Capital Asset, points to two reasons: Traders think the weaker-than-expected retail sales and industrial production numbers mean Beijing is likely to come in with new stimulus. And traders were buoyed by comments by US President Donald Trump that he expects negotiations on US-China trade will "turn out extremely well."
"The market is mainly held today by comments from Donald Trump and the fact that, despite the economic data not being very good, the market expects there will be more chance for stimulus measures from the government, because the economy slowed down in April and the trade war is still affecting it,” said Tang.
“There is speculation [that Beijing] will cut the reserve requirement rate to improve liquidity,” he said. “New loans and liquidity in April has been deteriorating and the economic figures reflect this news.”
Consumer stocks, like food companies, are benefiting. Tang is also focusing on software stocks as potential buys, like Hong Kong-based multinational battery manufacturer Gold Peak Industries (0040 HK).
He believes markets will continue to be volatile for the remainder of the week as they react to news, but without too much downside. The Hang Seng “has already dropped a lot over the past week and the market is still positive there will be some sort of deal,” said Tang, predicting a lowest level of 28,000. Shanghai, meanwhile, will hang around 3,000 without dipping past it.
The Hang Seng Index is up 1 per cent, and the Shanghai Composite is up 2 per cent.
-- Louise Moon 


Markets boosted by expected new stimulus, Trump's positiveness on trade deal, says Kenny Tang Sing-hing

The Shanghai Composite Index is up more than 2 per cent, led by the consumer sector, which has shot up more than 4 per cent.
Next up is healthcare, seeing gains of almost 3 per cent, followed by basic materials, which is up over 2 per cent.
Of 1,508 stocks, only 65 are down and 17 have breached the maximum 10 per cent gain in a day.
Top moving stocks are include sugar product company Baotou Huazi Industry (600191 SS), energy company Ningxia Jiaze Renewables (601619 SS), train transport company Shanghai Shentong Metro (600843 SS) and agricultural product company Zhongnongfa Seed Industry Group (600313 SS).
-- Louise Moon 


Consumer sector shoots up 4 per cent on Shanghai Composite 

China is the most attractive market to invest in renewable energy for the fourth year in a row, according to a report by UK accountancy firm Ernst & Young, reported Reuters.
The report ranks the top 50 renewable energy markets worldwide, and placed China first, ahead of the US, which ranked second.
“China’s renewable energy market is undergoing a transition as the government seeks to rein in the costs of the subsidies paid to the sector,” said EY, as quoted by Reuters.
“With continuing concerns about pollution, falling technology costs and revived interest from international players, however, growth in the world’s largest clean energy market is set to continue.”
Among energy companies today in the mainland, Zhongnongfa Seed Industry (600313 SS) broke the 10 per cent daily rise limit, while Shenzhen Noposion Agrochemicals (002215 SZ) rose 7.3 per cent, Cangzhou Dahua (600230 SS) gained 2.2 per cent and Sichuan New Energy Power (000155 SZ) was up 2.8 per cent.
-- Louise Moon


China again ranked most attractive market for renewable energy investment 

Alcohol makers in China were beneficiaries of China’s positive market trading today.
The second largest distiller, Wuliangye Yibin (000858 SZ), hit its highest ever level earlier in the afternoon, of 110.15 yuan, after it jumped 7 per cent. It then pared gains to be up 6.18 per cent.
Its major competitors were up as well. The largest, Kewichow Moutai (600519 SS), rose 4.75 per cent, Luzhou Laojiao (000568 SZ) breached the daily limit of 10 per cent and Foshan Haitian Flavouring and Food (603288 SS) rose 5.13 per cent.
Mainland stocks snapped a two-day losing streak, with the Shanghai Composite gaining 1.9 per cent to end at 2,936.06. The CSI 300 of large stocks in Shenzhen and Shanghai rose 2.2 per cent to finish at 3,725.33.
Consumer stocks led both the bourses, followed by healthcare.
-- Louise Moon


Liquor stocks jump as Shanghai Composite snaps two-day losing streak 

The streak of dumping Chinese shares by overseas investors ended today, with foreign traders buying more of the stocks than they sold for the first time in seven days.
They bought 907.5 million yuan (US$132.2 million) worth of the mainland-traded equities through the exchange links with Hong Kong, helping the Shanghai Composite Index rebound by 1.9 per cent.
Yesterday, overseas traders sold combined 10.9 billion yuan of Chinese stocks, the most since at least December 2016.
-- Zhang Shidong


Chinese stocks see net foreign inflows for first time this month

WH Group (0288 HK), the world’s largest pork producer, shot up 4.9 per cent in Hong Kong, after falling 4 per cent on Tuesday.
That was its biggest daily gain this month. The company, which also owns US-based Smithfield Foods, has been hit by the trade war, losing 32 per cent in its share price last year.
Today's positive sentiment over trade war progress seems to have helped, as it rose to HK$7.75 and was the highest percentage gainer on the Hang Seng.
-- Louise Moon


Pork producer WH Group shoots up 4.9 per cent

Ping An Healthcare and Technology, also called Ping An Good Doctor (1833 HK), announced a strategic cooperation with Wyeth Nutrition, where both sides will cooperate in new health-care services, new technology applications, and the integration of business and membership systems.
They aim to bring one-stop nutrition and healthcare solutions and a new “active and healthy lifestyle” concept to 12 million members of Wyeth Mom Club by jointly building a new “Maternal and Infant + Medical Healthcare" ecosystem.
Ping An Good Doctor's shares rose by as much as 2.3 per cent to HK$37.85 in Hong Kong.
-- Eugene Tang 


Ping An Good Doctor announces cooperation deal with Wyeth Nutrition

Meitu (1357 HK), China's largest beauty selfie app developer that has set its future focus on blockchain technology, soared 11 per cent to HK$2.84, poised to extend its winning streak to a third straight session.
The gains came as bitcoin prices surged above US$8,000 on Tuesday to its highest level in around 10 months. The crypto-currency has jumped more than 90 per cent this year, making it one of the best performing assets around the globe.
Meitu published a white paper on blockchain technology in January and said the company will tap the technology to develop a facial recognition authentication system and store users' data.
Chinese blockchain service providers also broadly advanced.
On the Shenzhen stock exchange,  Brilliance Technology and Julong both surged 10 per cent to 18.17 yuan and 7.99 yuan, respectively. GRG Banking Equipment jumped 2.9 per cent to 6.67 yuan.
-- Laura He


Meitu leads Chinese blockchain stocks higher after bitcoin surges above US$8,000

Tencent (700 HK)  watchers can sign up for the live webcast of tonight's 8 pm earnings announcement here. Scheduled presenters are Ma Huateng, chairman and CEO, Martin Lau, president, James Mitchell, chief sales officer, and John Lo, the chief financial officer. 
Tencent pared gains at the end of the day but was up 0.81 at HK$373.60.
Morgan Stanley raised its price target on Tencent to HK$430 from HK$408, or a 16 per cent jump from Tuesday's close. It kept its "overweight" rating. Meanwhile, BNP Paribas Equity Research maintained its buy recommendation on Tencent today, boosting its target price to H$425 from $HK390. 
Of the 53 analysts Bloomberg tracks covering Tencent, 53 call it a buy, six a hold and none a sell. The consensus target price is HK$428.53.
Meanwhile, e-commerce giant Alibaba (BABA US) will hold its earnings call at 7:30 pm tonight. The live webcast can be accessed here. 
Of analysts tracked by Bloomberg, 52 call it a buy, one a hold and one a sell. Its consensus price target is US$212.05. That would be a 21 per cent increase from its Tuesday close at US$174.84. (Alibaba is the parent company of the South China Morning Post.)
"Alibaba is likely to deepen the monetization of its users with better ad-sales efficiency and efforts to optimize product-search results," Bloomberg Intelligence wrote in a note on May 6. "The growth of Ebitda (earnings before interest, tax, depreciation and amortization) and operating profit may continue to trail sales as Alibaba presses ahead with its investments in offline retail, local consumer services and logistics."
-- Deb Price 
 


Tencent, Alibaba earnings webcast details -- tonight

Hong Kong’s Hang Seng ended the day up 0.58 per cent to 28,286.33, in a reversal of Tuesday’s losses.
The bourse started and finished the day in positive territory as traders were buoyed by Trump’s remarks that indicated he expects a deal will be reached over trade as well as by speculation China will inject stimulus into the economy.
Healthcare led the benchmark, ending up 2.5 per cent, with Sino Biopharmaceutical (1177 HK) as the top related stock, with 3.63 per cent in gains.
-- Louise Moon 


Stocks Blog: Shanghai snaps two-day losing streak; Hong Kong also advances

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}Alibaba, Tencent to report earnings tonight Unpredictable Donald Trump says trade impasse will 'turn out extremely well'

Alibaba, Tencent to report earnings tonight

Unpredictable Donald Trump says trade impasse will 'turn out extremely well'