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Stocks blog: Telecoms sector lifts Hong Kong, mainland China stocks into positive territory

  • Hang Seng Index closes up 0.8 per cent 
  • Shanghai Composite closes up 0.25 per cent and the CSI 300 index of large caps in Shenzhen and Shanghai is up 0.32 per cent
Topic |   Stocks Blog
INTRODUCTION

Well, that did not last long. A cheer brought on by a delay in tariffs on about US$300 billion worth of Chinese goods has proved to be short-lived.

US equities tanked as much as 3 per cent overnight, spooking investors. And as chances of a recession build up, will Asia join the party?

China and Germany released weak economic data on Wednesday, while the world’s largest gaming company, Tencent Holdings, posted disappointing results. Meanwhile, protests continue in Hong Kong for a 11th consecutive week, slamming the city’s economy, while there seems to be no end in sight for the trade war between Washington and Beijing.

It is no surprise that gold, a safe haven asset, is surging.

Stay tuned as we, Louise Moon and Azar Zaidi, take you through what looks to be a tumultuous day in the Hong Kong and mainland markets