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Georgina Lee

Deb Price

Good day, traders --
Catch up on the day's action below. If you have any questions or feedback on our live blog, please send them to deb.price@scmp.com .
-- Georgina Lee and Deb Price in Hong Kong 


Stocks Blog: China shares slide, as weaker yuan and trade war beat down sentiment   

An investor checks out stock prices in Nanjing, capital of east China's Jiangsu Province on March 4, 2019. Photo: Xinhua 


Business

Markets


Hang Seng on track for second straight month of losses
Investors should be in 'wait and see' mode, says stock strategist Kenny Wen



The Hang Seng Index is on track for a second straight month of losses.
 


Live

Here's what we are watching this morning:
Overnight markets/ What futures foretell
--The S&P 500 rose 0.65 per cent, the Nasdaq climbed 0.38 per cent and the Dow Jones Industrial Average rose 1 per cent. 
-- Hong Kong futures are up 0.02 per cent, China A50 are up 0.1 per cent.
IPO debuts: None to note
Economic statistics/Central Bank action: None to note
Corporate events:
Earnings: Bank of Ningbo (002142 CH), China Shipbuilding (601989 CH), Zhifei Biological (300122 CH), Citic (267 HK), Cnooc (883 HK), CRRC (601766 CH), Dongfeng Motor (489 HK), GF Securities (000776 CH), Haier Electronics (1169 HK), Haier Smart Home (600690 CH), Huatai Securities (601688 CH), ICBC (601398 CH), Yili Industrial (600887 CH), Hengrui Medicine (600276 CH), Montage Technology (688008 CH), Ningbo Zhoushan Port (601018 CH), Orient Securities (600958 CH), PetroChina (857 HK), SAIC Motor (600104 CH), Sany Heavy Industry (600031 CH), SDIC Capital (600061 CH), Shandong Gold Mining (600547 CH), Shanghai Pharma (601607 CH), Shenzhen Huiding Tech (603160 CH), Shenzhen Overseas Chinese Town (000069 CH), Sino Land (83 HK), Weichai Power (2338 HK), Yunda Holding (002120 CH), Zhejiang Supor (002032 CH), Zijin Mining (2899 HK)
Good reads: Some 8,000 agents face “elimination” as the prolonged protests and the US-China trade war hasten the decline in Hong Kong’s property prices and shrink transactions, reports Lam Ka-sing. HSBC will refund up to HK$20,000 (US$2,548.96) in interest payments to its small-and-medium enterprise customers to help them cope with challenges from the trade war and protests, reports Enoch Yiu. 

 


Morning guidance 

China Construction Bank, the mainland’s second-largest lender by asset value, reported a 4.9 per cent profit growth for the first half of this year, buoyed by its non-interest income.
The Beijing-based bank earned 154.2 billion yuan (US$21.54 billion) between January and June, compared to 147 billion yuan for the same period in 2018, it said in a statement after the market close on Wednesday. 
The first-half profits beat analysts’ estimates, who expected profits to increase 4.4 per cent, according to Reuters calculations.
CCB’s fee and commission income grew faster than its interest income. Its net interest margin narrowed for the third consecutive quarter, standing at 2.27 per cent at the end of June, down from 2.29 per cent in March.
It trades in Hong Kong (939 HK) and on the mainland (601939 CH).
-- Daniel Ren 
 


China Construction Bank reports 4.9 per cent 1H profit growth

Air China, the mainland’s flag carrier, said its first-half earnings dropped 9.5 per cent as the Chinese yuan weakened and growth of aviation demand slowed.
The company said on Wednesday that its net profits from January to June were valued at 3.14 billion yuan (US$438.5 million), down from 3.47 billion yuan a year ago. 
It trades in Hong Kong (753 HK) and on the mainland (601111 CH).
Revenue rose 1.7 per cent to 65.3 billion yuan. 
Chinese airlines’ performance are affected by fluctuations in fuel prices and the yuan’s exchange rate.
They suffered losses from a depreciating yuan due to their exposure to foreign-currency loans.  
On Tuesday, China Southern Airlines, mainland China’s largest air carrier, reported a 20.9 per cent profit drop for the first half of this year.
-- Daniel Ren 
 


 Air China 1H earnings fall on weak yuan, demand 

China Evergrande (3333 HK) said net profit attributable to shareholders for the six month ended June rose 51.4 per cent from a year ago to 14.9 million yuan, from 30.8 million yuan, while revenue dropped 24.4 per cent to 227 billion yuan, from 300.4 billion yuan.
Core business profit, presenting net profit excluding fair value gains on investment properties, gains or losses on financial instruments, plunged 45 per cent at 30.35 billion yuan.
Evergrande became the first among the mainland’s top 10 developers to report a decline in earnings.
Evergrande reported a 7.4 per cent drop in contracted sales for the first half. Its lackluster results came after the central government rolled out a slew of cooling measures to curb property price growth earlier this year.
The builder only managed sales of 281.81 billion yuan in the six months to June, accounting for less than half the company’s 600 billion yuan annual sales target. The company did not declare an interim dividend, which was also true of last year.
Read full story here. 
-- Pearl Liu 


China Evergrande sees revenue drop 24.4 per cent 

Mengniu Dairy (2319 HK) reported a 15.6 per cent increase in revenue, to 39.86 billion yuan. That was 1.5 per cent above Bloomberg estimates.
The China milk, yogurt and ice cream producer's net profit increased by 33 per cent year-on-year to 2.08 billion yuan, according to its filing overnight with the Hong Kong exchange. That was 3.7 per cent below Bloomberg estimates.
"With the growing Chinese population, the people earning more income and healthier diet concepts taking root, the dairy consumption market has continued to manage solid growth, which not only has driven development of the dairy industry, but also created new consumer market demand," it said in the filing. 
It said it will boost its efforts to develop high growth potential product types such as liquid milk, milk formula and cheese, as well as chilled yogurt products.
-- Deb Price 
 


Mengniu Dairy 1H revenue beats estimates but net income falls short

The Hang Seng Index is trading down 0.5 per cent at 25,490.07 in sluggish trading.
The Shanghai Composite Index is down a hair, by 0.07 per cent at  2,892 points.
The CSI 300, which tracks blue chips listed on Shenzhen and Shanghai, was down 0.2 per cent, at 3,794.58.
Overnight, US Treasury secretary Steven Mnuchin said US trade officials expect Chinese negotiators to visit Washington, but did not say whether this would happen in September. His comments followed China's decision last Friday to impose new tariffs on US$75 billion of US goods covering soyabeans, automobiles and crude oil. They take effect on September 1 and December 15.
Then US president Donald Trump responded by raising tariffs on almost all Chinese imports, raising tariffs to 30 per cent from 25 per cent on US$250 billion worth of Chinese imports on October 1. On another US$300 billion worth of Chinese goods, tariffs will increase to 15 per cent from 10 per cent,  starting September 1.
Index heavyweight Tencent (700 HK) was down 0.8 per cent, while Mengniu Dairy (2319 HK) was biggest percentage loser, down 6.3 per cent, at HK$31.35, on first-half results that disappointed investors. Sino Biopharm (1177 HK) lost 1.9 per cent at HK$10.42.
In Shanghai, China Satellite Communications (601698 CH)  was up 3.6 per cent to 11.14 yuan,  while liquor distiller giant Kweichow Moutai (600519 CH) was down 0.3 per cent at 1,096.70 yuan.
-- Georgina Lee 
 


Hang Seng and China stocks trading lower in sluggish trading

Tencent (700 HK) is trading down 0.8 per cent, at HK$316.6. That intra-day level is its lowest since January 8, when it closed at HK$315.6.
China’s social media and online gaming giant has invested US$125 million in Kuaikan World (Beijing) Tech in a move to cooperate in the country’s online comics market.
Kuaikan World’s founder said the company would remain an independent outfit, and it was not immediately clear whether other investors are involved in the latest financing round.
The online comics start-up raised US$177 million in its Series D financing round in December 2017.
Earlier on Tuesday, Bloomberg reported that Tencent's New York-listed unit, Tencent Music Entertainment Group, is being investigated by China’s antitrust authority on certain exclusive licensing deals it had forged with music labels including Universal Music Group, Sony Music Entertainment and Warner Music Group.
-- Georgina Lee 


Tencent trading at eight-month low

The Hang Seng Index is on track to end August with losses.  
That'd be the second straight month of losses, and the third month it has lost ground in 2019.
So far, as of Wednesday's close, August has seen a 7.8 per cent decline on Hong Kong's benchmark.
The Hang Seng is now down 1.5 per cent for the year.

 
-- Deb Price 


Hang Seng on track for second straight month of losses 

Shares of Innovent Biologics (1801 HK), one of the first batch of drug developers without a profit track record to list in Hong Kong under reformed listing rules last year, gained as much as 5.9 per cent, after it reported late on Wednesday 331.6 million yuan of revenue from its first commercial drug product Tyvyt.
The sales for the drug co-developed with American pharmaceutical giant Eli Lilly to treat relapsed or refractory classical Hodgkin's lymphoma, were booked between March 9, when it was launched, and June 30.
The Suzhou, Jiangsu province-based company said it expects the drug's sales momentum to continue in the rest of the year.
Innovent posted a net loss of 714.4 million yuan in the year's first six months on revenue of 345.5 million yuan.
It had a gross profit margin of 88 per cent.
Research and development expenses surged 60 per cent year-on-year to 670.7 million yuan as it conducts clinical trials or research on 21 potential drug candidates.
The stock is trading 2 per cent higher at HK$24.95. 
-- Eric Ng 


Innovent climbs on sales report of drug to treat Hodgkin's lymphoma

Sino Biopharmaceutical (1177 HK), the bellwether of Hong Kong-listed pharmaceutical stocks, fell as much as 5.3 per cent after it posted late on Wednesday a 5.8 per cent year-on-year rise in net profit to 1.44 billion yuan for the year's first half.
Underlying net profit, which excludes gains and losses related to acquisitions, grew 20.5 per cent year-on-year to 1.67 billion yuan.
Everbright Securities analyst Lin Xiaowei had estimated its first half net profit to be 1.6 billion yuan. The average profit estimate for the whole of this year is 3.22 billion yuan, according to a Bloomberg poll of 15 analysts.
First-half revenue rose 28.8 per cent year-on-year to 12.53 billion yuan. The firm declared quarterly dividends totalling 4 HK cents per share for the first-half, same as last year's first-half.
The stock is trading down 1.7 per cent lower at HK$10.44. It has doubled in price since the start of the year when pharmaceutical shares were dragged down by worries of policy-driven drug price cuts, compared to a 1.6 per cent fall of the Hang Seng Index.
-- Eric Ng


Sino Biopharmaceutical falls as earnings report disappoints investors 

Jiangsu Hengrui Medicine (600276 CH) was the third most traded stock on the Hong Kong-Shanghai Stock Connect, attracting 102.7 million yuan net buying orders from northbound traders on Wednesday, according to the latest data available on the Hong Kong Stock Exchange. 
The Jiangsu province-based company, which develops anti-tumor medicines, pain killers and other products, closed up 1.7 per cent Wednesday.
Earlier this week, it announced on the Shanghai Stock Exchange that the Chinese regulator approved it to start clinical trials on Camrelizumab, SHR-1210, which could form the foundation of certain immunotherapies.
This morning, it is trading slightly down, by 0.4 per cent, to 77.45 yuan.
-- Georgina Lee 
 


China's Jiangsu Hengrui Medicine draws buying activity on Stock Connect

Mengniu Dairy (2319 HK) plunged, reversing the strong gains Wednesday when the stock closed at a historic high of 33.45 yuan.
In the first half of the year, net profit of China’s leading maker of milk, yogurt and other dairy products rose 33 per cent to 2.08 billion yuan from 1.56 billion yuan, below consensus estimates polled by Bloomberg at 2.16 billion yuan.
It is trading down 5.7 per cent, at HK$31.55.
-- Georgina Lee 


Mengniu Dairy shares plunge on disappointing 1H report 

Luye Pharma (2186 HK) reported Wednesday night that net profit attributable to shareholders rose 36.2 per cent to 766.6 million yuan, from 562.9 million yuan a year ago.
Revenue rose 42.1 per cent, to 3.13 billion yuan from 2.2 billion yuan.
It also declared a higher interim dividend of 0.059 yuan, up from 0.043 yuan per share a year ago.
Luye Pharma develops, produces and sells drugs related to oncology, the central nervous system, cardiovascular system and the alimentary tract.
This morning, shares are trading up 4.4 per cent at HK$6.36, the highest level since May 17, when it closed at HK$6.50.
-- Georgina Lee 
 


Luye Pharma Group rises to more than three-month high on strong first half, interim dividend

The US dollar bond of Dr Peng Telecom & Media (600804 CH), a Beijing-based broadband and internet service provider, saw the biggest drop in almost three months.
The dollar bond, which matures in June 2020 and pays a coupon of 5.05 per cent, dropped by 3.4 US cents on the dollar, to 75 US cents Thursday morning, according to Bloomberg compiled prices.
The Wall Street Journal reported Wednesday that US officials are seeking to block an underseas cable backed by Google, Facebook and their Chinese partner, Dr Peng Telecom & Media, in a national security review. The cable project would run from Los Angeles to Hong Kong.
The Justice Department has signaled opposition to the project due to the Chinese investor, Dr Peng Telecom & Media, and the direct link that the cable would provide to Hong Kong, according to the Wall Street Journal report, which cited people involved in the discussions.
Shares of the largest private broadband provider were down 0.6 per cent at 6.77 yuan before the lunch break.
-- Georgina Lee 
 


Dr Peng Telecom & Media bond slides on report US government is blocking underseas cable

The Hang Seng Index is trying to perk up after spending the morning under water. 
In early afternoon trading, health care stocks are leading gains, up 4.4 per cent, followed by information technology, up 1.7 per cent, and utilities, up 1.4 per cent.
Consumer staples are a drag, down about 2 per cent. 
Sino Biopharmaceutical (1177 HK) is the top gainer, with investors reassessing its earnings and boosting it 5.8 per cent to $HK11.24. The top loser in early afternoon trading is China Mengniu Dairy (2319 HK), which had earnings that disappointed investors. It is down 7.9 per cent, at HK$30.80.
The Hang Seng was briefly above water after the lunch break, but is now trading a bit down, by 0.15 per cent at 25,577.40 points.  
 

-- Deb Price 
 


Hang Seng trying to perk up

Shares of Citic (267 HK), the listed flagship of China's largest state-backed conglomerate Citic Group, gained as much as 3 per cent, after it posted at lunch a 9.3 per cent year-on-year rise in net profit to HK$33.52 billion for the year's first six months.
Revenue grew 6.2 per cent to HK$147.7 billion.
Its financial services operation saw net profit rise 5.6 per cent to 41.7 billion yuan as credit easing widened interest margin at its bank unit, while that of manufacturing grew 80.8 per cent to HK$6 billion.
Resources and energy turned in a profit HK$2.1 billion, against a loss of HK$9.9 billion, mainly due to profit booked by its Australia iron ore business on the back of higher ore prices and cost reductions. The operation had suffered losses for many years due to major cost blow-outs and construction delays.
Its real estate operations saw net profit fall 22.8 per cent to HK$3.66 billion. An interim dividend of 18 HK cents per share was proposed, up from 15 cents last year.
The stock is now up 0.9 per cent to HK$9.17.
-- Eric Ng


Citic climbs on 9.3 per cent rise in net profit  

Software providers in Shenzhen and Shanghai rose to the daily limit, after Beijing said it wants to promote “culture-tech.”
Stocks of five software providers rose to the 10-per cent daily limit, including China National Software & Service (600536 CH), which hit 68.68 yuan, a record high.
Beijing VRV Software (300352 CH) rose to 5.96 yuan; Hunan Copote Science Tech (600476 CH)  rose to 17.62 yuan; Zhongfu Information (300659 CH) rose to 50.07 yuan; and Beijing Shiji Information Tech (002153 CH) hit 35.09 yuan.
Others strong performers include 360 Security Tech (601360 CH), up 6 per cent at 22.59 yuan; Beijing Tongtech (300379 CH), up 6.23 per cent at 21.33 yuan; and Beijing Certificate Authority (300579 CH), up 9.9 per cent at 32.18 yuan.
Earlier this week, six government agencies issued a guiding opinion on integrating culture and the sector’s use of technology.  It calls for the digitalisation and application of artificial intelligence in news publication, broadcasting and movies, arts, innovative design, cultural heritage protection and tourism.
The document lays down the aim of grooming about 200 enterprises that are leaders in their respective fields, who will be tasked to drive the integration of culture and technology going forward.
The guiding opinion was co-issued by the Ministry of Finance, the Cyberspace Administration of China, the National Radio and Television Administration, among others.
-- Georgina Lee 


Software providers jump to daily limit after Beijing promotes 'culture-tech'

Hong Kong Television Network (1137 HK) plunged 15 per cent to a more than three-month low, after it reported its first half net loss widened 11 per cent from a year ago to HK$155.4 million, from HK$139.9 million.
This came despite revenue rising 61 per cent to HK$625.5 million, from HK$388.6 million a year ago.
It said in June that its average daily orders number averaged 15,000, up from 12,200 orders in December 2018. The online shopping provider said it aims to to achieve break-even in   
ebitda (earnings before interest, taxes, depreciation and amortization) by the end of 2021.
Its shares are trading at HK$3.67, their lowest level since June 17.
-- Georgina Lee 
 


Hong Kong Television Network plunges after first half net loss widens

Shengda Mining (00063 CH) shot up to the daily 10 per cent up limit to 16.31 yuan; Yintai Resources (000975 CH) jumped 7.34 per cent to 16.96 yuan; Chenzhou City Jingui Silver Industry (002716 CH) climbed 3.75 per cent to 6.92 yuan, and Henan Yuguang Gold & Lead (600531 CH) rose 3 per cent to 5.45 yuan.
Their gains came after the December silver futures contract rose to US$18.456 on Wednesday, after rising 0.9 per cent. That was the highest since April 2017. 
The gains in silver came as longer-dated US treasuries, such as those of 10-year, recently fell below those for two years. Such yield curve inversion, often seen as a signal of an upcoming recession, has also sent gold to a six-year high this week.
-- Georgina Lee 


Silver mining stocks  in China rise after US silver futures rise to over two-year high

Investors are being very picky about stocks, says Alan Li, portfolio manager at Atta Capital, and not snapping up things just because they are cheap. 
"Such low valuation stocks, such as China banks, construction and auto makers, are cheap for reasons, and will stay cheap for awhile," he said. "Investors will still prefer high certain growth story picks, like consumer staples, pharmaceuticals, real estate management and higher education."
Settlement of index futures has been driving the Hang Seng Index today, he added.
The Hang Seng Index has struggled all day, but is now up 0.29 per cent to 25,691.03. He does not expect it to fall below the 25,000-point support level soon.   
-- Deb Price 
 


Investors are being watchful in their buying, says analyst Alan Li

The CSI 300, which tracks Shenzhen and Shanghai listed blue chips, lost 0.3 per cent to close at 3,790.19. The Shanghai Composite Index lost 0.1 per cent, finishing at 2890.92 points.
Leading the index down were financials and utilities.
Ping An Insurance (601318 CH) lost 0.2 per cent, to 86.7 yuan. China Merchants Bank (600036 CH) fell 1.7 per cent to 33.93 yuan. China Life Insurance (601628 CH)  fell 1.3 per cent to 28.64 yuan.
China Yingtze Power (600900 CH) lost 1.4 per cent to 18.78 yuan. China Shenhua Energy (601088) ended down 1.5 per cent at 18.55 yuan.
Alvin Cheung, associate director at Prudential Brokerage, said the Shanghai Composite Index failed to break past the 2,900 that was reached Tuesday when the market was full of buying triggered by the MSCI index A share weight increase that day.
Weakness in the renminbi is still weighing on the market. The onshore yuan was trading at 7.1610 per dollar, down 0.06 per cent.
“A weaker renminbi could be a drag to the overall index performance. Sectors with high US dollar debt financing costs, or Chinese airlines would be under more pressure, as the latter incurs US dollar cost from aircraft buying and fuel costs,” said Cheung.
But one brighter spot was in the software sector. China National Software & Service (600536 CH) hit the daily 10 per cent up limit, at 68.68 yuan, a historic high. Others hitting the 10 per cent upside limit included Beijing VRV Software (300352 CH), ending at 5.96 yuan, and Hunan Copote Science Tech (600476 CH), which finished at 17.62 yuan.
-- Georgina Lee 


China stocks end lower, with yuan weakness weighing on benchmarks

Investors should be in a "wait and see" mode right now, reducing exposure so they can jump in on a rebound, says Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. 
"Consumer stock are driven by policy, but valuations may be little bit demanding," Wen said. "I suggest mainland property stocks for aggressive investors, given their current stock prices should reflect most bad news."
Investors might look at Kaisa Group Holdings (1638), an integrated real estate company based in Shenzhen, and Yuexiu Property (123 HK), which develops, manages and invests in properties, Wen said.
-- Deb Price 
 


Investors should be in 'wait and see' mode, says stock strategist Kenny Wen 

The Hang Seng Index seesawed between gains and losses all day, but ended the day slightly up, by 0.3 per cent, at 25,703.5.
Keeping the Hang Seng afloat were healthcare stocks, with Sino Biopharmaceutical (1177 HK) topping the index in percentage terms, surging 9.8 per cent to HK$11.66. That was a big rebound from morning losses. It reported a 5.8 per cent rise in net profit to 1.44 billion yuan for the first half this year.
CSPC Pharmaceutical (1093 HK) rose 3.9 per cent, to HK$16.1. Although not a blue chip, Luye Pharma (2186 HK) rose 3.3 per cent at HK$6.29, after it reported Wednesday night that net profit attributable to shareholders rose a solid 36.2 per cent to 766.6 million yuan.
“Many of these healthcare, pharmaceutical stocks have been bucking the broader downward market trend, as many of their drugs, which are related with the oncology and cardiovascular system, address the huge market potential under China’s aging population,” said Alvin Cheung, associate director at Prudential Brokerage.
Index heavyweight AIA (1299 HK), rose 1.7 per cent at HK$76.65, while Tencent (700 HK) edged up 0.4 per cent HK$320.2.
Citi (267 HK), the listed flagship of China's largest state-backed conglomerate Citic Group, closed up 1.3 per cent, at HK$9.21, after it posted at lunch a 9.3 per cent year-on-year rise in first half net profit to HK$33.52 billion.
-- Georgina Lee 


Hang Seng ekes out gain, but on track for another monthly loss

PetroChina, the nation's largest oil and gas producer, posted a 3.6 per cent year-on-year rise in net profit to 28.4 billion yuan for the year's first six months.
It was in line with the 28.1 billion yuan average estimate by analysts at Jefferies and CCB International, and amounts to 50.7 per cent of the 56 billion yuan full-year estimate of 18 analysts polled by Bloomberg.
A 79 per cent jump in oil and gas production operating profit on the back of higher oil and gas output and higher oil price more than offset sharply lower profits from oil refining, fuel marketing and chemicals operations.
An interim dividend of 7 fen per share and a special interim dividend of 0.78 fen was declared, making a total of 7.78 fen, down from 8.88 fen last year.
It trades in Hong Kong (857 HK) and on the mainland (601857 CH). 
-- Eric Ng 


PetroChina posts 3.6 per cent net profit increase in 1H -- in line with expectations

CNOOC (883 HK), China's dominant offshore oil and gas producer, posted an 18.7 per cent year-on-year rise in net profit to 30.3 billion yuan for the year's first-half. The results came after today's market close. 
It was in line with the average estimate of 30.7 billion yuan by analysts of Jefferies and CCB International, and amounted to 55.5 per cent of the full-year 54.6 billion yuan profit estimate of 20 analysts polled by Bloomberg.
The profit growth was due mainly to a 2.1 per cent rise in oil and gas output and a 8.9 per cent fall in per barrel production cost.  An interim dividend of 33 HK cents per share was declared, up 10 per cent from last year.
-- Eric Ng
 


CNOOC reports 18.7 per cent rise in 1H net profit 

US President Donald Trump is using trade war escalations to compel the Federal Reserve to cut rates, and this could be good to China stocks, according to Shenzhen-based First Seafront Fund Management.
"The US and China will reach a resolution to the trade war by the first half of next year," chairman Gong Fangxiong said during a press conference.
The US will be eager to reach a trade deal because its markets are increasingly being dragged down by the tensions, and the tariffs are starting to hurt its consumers, he said.
Trump is only escalating trade tensions because he wants to complicate the US economic outlook, so that the market would expect the Fed to ease the monetary policy to boost the economy and create pressure for the Fed to cut rates.
If he manages to make the Fed cut rates by 100 basis points accumulatively this year, and then strikes a deal with China, the US economy and markets will perform very well next year. That will increase his chances to be re-elected, Gong said.
The US dollar is likely to weaken as a result of the easing, and this will be a boost to emerging markets including China, he said.
-- Yujing Liu 


Stocks Blog: China shares slide, as weaker yuan and trade war beat down sentiment

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;} Hang Seng on track for second straight month of losses Investors should be in 'wait and see' mode, says stock strategist Kenny Wen

Hang Seng on track for second straight month of losses

Investors should be in 'wait and see' mode, says stock strategist Kenny Wen