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Stocks blog: Hang Seng ekes out gains on ‘not very strong confidence’, China stocks edge up

  • Tariff delays not enough to reverse bearish sentiment in Hong Kong: Core Pacific-Yamaichi
  • Shanghai Composite, CSI 300 edge up at Wednesday close
Topic |   Stocks Blog
INTRODUCTION

It is not every day that US President Donald Trump lightens the mood. But amid the gloom that has descended on Hong Kong amid an escalation in protests, a delay in tariffs on some items until December 15 announced overnight could be welcomed – even embraced – by some sections of the markets.

It should not come as a surprise that US markets all closed higher overnight. The S&P 500 rose 1.48 per cent, the Nasdaq was up 1.95 per cent and the Dow Jones Industrial Average gained 1.48 per cent.

The delay in tariffs of about US$300 billion of Chinese consumer goods will allow US retailers to stockpile products they need for the back-to-school and holiday shopping seasons. Also, when imposed, the tariffs may mean more job cuts and store closings for US retailers during this holiday season,
US correspondent Jodi Xu Klein writes
.

Stay with us, Louise Moon and Azar Zaidi in Hong Kong, as we keep track of bourses in the city and mainland China on what could be another interesting day for stocks.