https://www.scmp.com/rss/328632/feed Deb joined the Post in 2018. Formerly an editor at The Wall Street Journal and The Washington Post, she was a Harvard Nieman fellow in 2011. She was the lead writer on The Wall Street Journal's digital project, "No Good Choices," which won the top award for excellence in reporting on women's issues from the Society of Publishers in Asia in 2015. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Hong Kong stocks rose Friday as Chinese smartphone maker Xiaomi continued to soar on huge earnings and in anticipation of its being added to the Hang Seng Index. Sentiment was buoyed by Hong Kong’s restaurants being allowed to stay open until 9pm beginning Friday, as positive signs have been seen on coronavirus control. The Hang Seng Index gained 0.6 per cent to 25,422.06, failing to end the week above the important 25,500 resistance level. For the week, it ended ahead 1.2 per... https://www.scmp.com/business/markets/article/3099187/hong-kong-stocks-gain-xiaomi-continues-surge-after-being-tapped?utm_source=rss_feed https://www.scmp.com/business/markets/article/3099187/hong-kong-stocks-gain-xiaomi-continues-surge-after-being-tapped?utm_source=rss_feed Fri, 28 Aug 2020 03:17:55 +0000 Chinese smartphone maker Xiaomi soared on Thursday on stronger-than-expected earnings, but it failed to boost the overall mood in Hong Kong, where the benchmark sagged as the coronavirus continued to weigh on sentiment. Xiaomi, which will be added to the Hang Seng Index on September 7, reported profits that beat estimates and jumped nearly 13 per cent at one point, closing up 11.4 per cent . Last week, on news it would be included in the benchmark, it gained 18.4 per cent. The Hang Seng Index... https://www.scmp.com/business/markets/article/3099028/xiaomi-soars-better-expected-results-hang-seng-index-sheds-1-cent?utm_source=rss_feed https://www.scmp.com/business/markets/article/3099028/xiaomi-soars-better-expected-results-hang-seng-index-sheds-1-cent?utm_source=rss_feed Thu, 27 Aug 2020 03:31:24 +0000 Hong Kong tech stocks including Alibaba gained on Wednesday as Jack Ma’s Ant Group filed for dual listings in the city and in Shanghai. The three stocks that will become part of the Hang Seng Index on September 7 all closed with gains. Wuxi Biologics shot up 5.9 per cent, while e-commerce giant Alibaba, Ant’s largest shareholder and the owner of the South China Morning Post, jumped 4.2 per cent and Chinese smartphone maker Xiaomi soared 5.7 per cent. Xiaomi, which reports earnings Wednesday... https://www.scmp.com/business/companies/article/3098876/hong-kong-china-stocks-struggle-direction-even-ant-group-files?utm_source=rss_feed https://www.scmp.com/business/companies/article/3098876/hong-kong-china-stocks-struggle-direction-even-ant-group-files?utm_source=rss_feed Wed, 26 Aug 2020 03:08:12 +0000 Hong Kong finished with a small loss Tuesday after earlier declines narrowed when the government relaxed social distancing restrictions, allowing restaurants to serve until 9pm beginning Friday. Stocks perked up on the announcement after falling as much as 0.8 per cent. The Hang Seng benchmark finished with a 0.3 per cent loss at 25,486.22. That left it below 25,500 after it closed Monday above that level – at 25,551.58 – for the first time in five weeks. “25,000 is the peak since the middle of... https://www.scmp.com/business/money/stock-talk/article/3098692/hong-kong-china-stocks-mixed-us-china-officials-see?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3098692/hong-kong-china-stocks-mixed-us-china-officials-see?utm_source=rss_feed Tue, 25 Aug 2020 03:18:00 +0000 Hong Kong stocks kicked off the week with a strong start, as the city was expected to see its fewest new cases of Covid-19 in more than a month and US companies reportedly were told they will be allowed to continue to use WeChat in China. Meanwhile, on the mainland, a slew of new companies debuted on the Nasdaq-like ChiNext under looser rules. One debuting stock skyrocketed nearly 3,000 per cent. The Hang Seng Index rose 1.7 per cent to finish at 25,551.58 on Monday, led by Tencent, real estate... https://www.scmp.com/business/money/stock-talk/article/3098534/hong-kong-china-stocks-climb-report-us-companies-can?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3098534/hong-kong-china-stocks-climb-report-us-companies-can?utm_source=rss_feed Mon, 24 Aug 2020 02:31:13 +0000 Investors trying to capitalise quickly on the announced reshuffling of the Hang Seng Index were richly rewarded if they piled into Chinese smartphone maker Xiaomi this past week. It jumped 18.4 per cent, much more than e-commerce giant Alibaba and pharmaceutical developer Wuxi Biologics, the other two stocks that will be added to the board on September 7. Investors can expect more volatility in the trio leading up to the changeover. The Hang Seng Indexes Company revealed the additions on August... https://www.scmp.com/business/companies/article/3098494/xiaomis-spectacular-gain-outshines-alibaba-and-wuxi-biologics?utm_source=rss_feed https://www.scmp.com/business/companies/article/3098494/xiaomis-spectacular-gain-outshines-alibaba-and-wuxi-biologics?utm_source=rss_feed Sun, 23 Aug 2020 08:47:26 +0000 Silver has soared this year – outpacing even superstar gold – driven up by global uncertainties around the coronavirus and by shortages that have prompted investors to snap up silver-backed exchange-traded funds as well as coins, bars and other physical assets. “All of a sudden, people call us and are ordering silver,” said Pádraig Seif, partner of Precious Metal Asia, a trader based in Hong Kong. “And they're not buying just small quantities. They're buying a hundred kilos here. So, I say right... https://www.scmp.com/business/money/article/3098155/silver-has-soared-more-gold-year-amid-coronavirus-can-it-last?utm_source=rss_feed https://www.scmp.com/business/money/article/3098155/silver-has-soared-more-gold-year-amid-coronavirus-can-it-last?utm_source=rss_feed Fri, 21 Aug 2020 01:30:06 +0000 Hong Kong stocks posted their second straight day of gains as investors piled into battered traditional sectors like banking, real estate and airlines, sending the benchmark to its highest level in a week. The Hang Seng Index rose 1.4 per cent to 25,244.02 on Wednesday, marking its first close above 25,000 since last Thursday. Only nine stocks on the 50-member index finished with losses. Sentiment was shaky in the morning, when the benchmark fell 0.8 per cent, partly on concerns China is... https://www.scmp.com/business/companies/article/3097000/hang-seng-index-slips-macau-casino-stocks-continue-winning?utm_source=rss_feed https://www.scmp.com/business/companies/article/3097000/hang-seng-index-slips-macau-casino-stocks-continue-winning?utm_source=rss_feed Wed, 12 Aug 2020 02:30:46 +0000 Macau casino stocks soared on Tuesday on excitement that mainland China will begin reissuing tourist visas after the coronavirus left baccarat tables nearly vacant and slot machines untouched, causing a 90 per cent plunge in gaming revenue. Sands China surged nearly 10 per cent – its most in 20 months, according to Bloomberg data. Galaxy Entertainment closed with a 5.5 per cent gain, while MGM China, Wynn Macau and SJM Holdings each climbed about 5 per cent. Neighbouring city Zhuhai will be the... https://www.scmp.com/business/money/stock-talk/article/3096839/macau-casino-stocks-soar-resumption-mainland-china?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3096839/macau-casino-stocks-soar-resumption-mainland-china?utm_source=rss_feed Tue, 11 Aug 2020 02:53:34 +0000 US President Donald Trump’s latest jab at China landed squarely on the chin of Hong Kong’s hot new tech stock index – and the results weren’t pretty. The president signed an executive order banning Tencent’s WeChat from use in the US beginning in 45 days due to security concerns. That triggered a tech rout, on fears the US and China are entering a cold war that comes as China is growing its international tech prowess in 5G, smartphones, fintech and social media. The index of the city’s largest... https://www.scmp.com/business/china-business/article/3096521/trump-smacks-hong-kongs-new-high-flying-tech-stock-index?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3096521/trump-smacks-hong-kongs-new-high-flying-tech-stock-index?utm_source=rss_feed Fri, 07 Aug 2020 13:30:10 +0000 Hangzhou Tigermed Consulting, the biggest listing this year by an Asian health care provider, jumped by as much as 19 per cent in its Hong Kong trading debut, as investors piled into China’s largest clinical researcher, betting that some of its 400 trials under way would bear fruit. Tigermed’s shares began trading at HK$119, soaring from their initial public offering price (IPO) of HK$100. It trimmed that to a 13 per cent gain on a down day on the overall market. Yuan-denominated A shares of the... https://www.scmp.com/business/companies/article/3096406/tigermed-roars-its-hong-kong-stock-trading-debut-asias-largest?utm_source=rss_feed https://www.scmp.com/business/companies/article/3096406/tigermed-roars-its-hong-kong-stock-trading-debut-asias-largest?utm_source=rss_feed Fri, 07 Aug 2020 03:39:45 +0000 Hong Kong and China stocks tumbled Friday, as US President Donald Trump signed an executive order banning Tencent’s WeChat to “protect our national security”, his latest act targeting Chinese companies. Tencent fell as much as 10 per cent, before narrowing its loss to close down by 5 per cent, as Trump’s ire turned to Chinese apps. Other tech stocks in addition to Tencent dropped, with the two-week-old Hang Seng Tech Index tumbling 2.5 per cent. It narrowed the loss later to 2.6 per cent. It had... https://www.scmp.com/business/markets/article/3096404/hong-kong-stocks-slip-tencent-other-tech-stocks-are-hit-washington?utm_source=rss_feed https://www.scmp.com/business/markets/article/3096404/hong-kong-stocks-slip-tencent-other-tech-stocks-are-hit-washington?utm_source=rss_feed Fri, 07 Aug 2020 03:26:57 +0000 Hong Kong stocks slipped Thursday, with index heavyweight Tencent declining on fears its WeChat social media app could be swept up into the US “clean network” campaign claiming Chinese-made technology poses security risks. Overnight, US Secretary of State Mike Pompeo called on US app stores to remove “untrusted” Chinese-owned apps, including WeChat and TikTok. This expanded the US charge against Huawei and other Chinese tech giants over a mix of security and human rights abuse claims. Secretary... https://www.scmp.com/business/markets/article/3096242/hong-kong-and-china-stocks-fall-us-expands-its-campaign-against?utm_source=rss_feed https://www.scmp.com/business/markets/article/3096242/hong-kong-and-china-stocks-fall-us-expands-its-campaign-against?utm_source=rss_feed Thu, 06 Aug 2020 03:31:01 +0000 Gold has surged past the US$2,000 per ounce level, setting yet another all-time record as the yellow metal continues to benefit from a slew of risk events, including the coronavirus pandemic, inflation fears and global economic uncertainties. The precious metal reached US$2,019.21 per ounce overnight, before paring the rally to US$2,016.87 in recent trades. It has appreciated nearly 34 per cent this year as investors have piled into safe-haven assets as insurance against market turmoil. Some... https://www.scmp.com/business/china-business/article/3096079/gold-blasts-past-us2000-level-traders-rush-gold-backed-etfs?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3096079/gold-blasts-past-us2000-level-traders-rush-gold-backed-etfs?utm_source=rss_feed Wed, 05 Aug 2020 03:23:22 +0000 Hong Kong stocks rose for the second straight day, as Tencent climbed on news it is pushing to create a US$10 billion video game streaming giant and China oil giants advanced on rising oil prices. Hang Seng Index heavyweight Tencent shot up 2 per cent on Wednesday, as Bloomberg reported it is pushing for a merger of China’s biggest video game-streaming platforms, Huya and DouYu International Holdings. The WeChat operator and video games behemoth owns a 37 per cent stake in Huya and 38 per cent... https://www.scmp.com/business/markets/article/3096078/hong-kong-china-stocks-struggle-news-report-says-washington-and?utm_source=rss_feed https://www.scmp.com/business/markets/article/3096078/hong-kong-china-stocks-struggle-news-report-says-washington-and?utm_source=rss_feed Wed, 05 Aug 2020 03:11:59 +0000 As the coronavirus drags into its seventh month, old economy stocks face a high-stakes reckoning: do their battered share prices signal they are roadkill, unlikely to ever fully revive? Or, will these stocks rebound, becoming the miracle comeback stories of tomorrow? The answer is hotly debated among professionals looking ahead to where they expect share prices of these Hong Kong-listed stocks to be a year from now. “The virus is the great known ‘unknown’ for the markets,” said Bruce Pang, head... https://www.scmp.com/business/companies/article/3095703/hong-kong-listed-old-economy-stocks-are-coronavirus-roadkill?utm_source=rss_feed https://www.scmp.com/business/companies/article/3095703/hong-kong-listed-old-economy-stocks-are-coronavirus-roadkill?utm_source=rss_feed Sun, 02 Aug 2020 23:00:18 +0000 Apple suppliers in Hong Kong and China soared on Friday after the US tech giant smashed revenue expectations, as consumers snapped up iPhones, iPads, Mac computers and watches to work and play in the stay-at-home world of the coronavirus pandemic. Of mainland-listed Apple AirPod suppliers, Luxshare Precision Industry climbed 3.5 per cent to 58.59 yuan (US$8.40) in Shenzhen, bringing its rally this year to 109 per cent. GoerTek surged 9.8 per cent to 42.70 yuan, capping 114 per cent run-up. Apple... https://www.scmp.com/business/companies/article/3095475/apple-suppliers-soar-hong-kong-china-after-us-tech-giant-smashes?utm_source=rss_feed https://www.scmp.com/business/companies/article/3095475/apple-suppliers-soar-hong-kong-china-after-us-tech-giant-smashes?utm_source=rss_feed Fri, 31 Jul 2020 05:59:12 +0000 Hong Kong and China stocks stumbled Thursday, with investor sentiment weighed down by the stubbornness of the coronavirus pandemic and ongoing US-China tensions. The Hang Seng Index rose as much as 1.3 per cent, before closing down 0.7 per cent to 24,710.59. That left it below the psychologically important 25,000 mark for the fifth straight session and snapped a two-day winning steak. Earlier Hong Kong sentiment was boosted by the US Federal Reserve vowing to do whatever it takes to bolster the... https://www.scmp.com/business/china-business/article/3095265/hong-kong-china-stocks-advance-us-federal-reserve-keeps?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3095265/hong-kong-china-stocks-advance-us-federal-reserve-keeps?utm_source=rss_feed Thu, 30 Jul 2020 02:38:24 +0000 Tencent Holdings blasted past Facebook to become the world’s most valuable social media network operator by market capitalisation on Tuesday. It now also ranks as the seventh largest company globally. The Chinese online games and WeChat giant soared 4.5 per cent to HK$543.50, taking its market capitalisation to just under HK$5.2 trillion (US$670 billion), compared to the American rival’s market value of US$657.8 billion. Tencent has rallied about 45 per cent this year in Hong Kong, adding HK$1.6... https://www.scmp.com/business/companies/article/3094961/tencent-overtakes-facebook-worlds-most-valuable-social-media?utm_source=rss_feed https://www.scmp.com/business/companies/article/3094961/tencent-overtakes-facebook-worlds-most-valuable-social-media?utm_source=rss_feed Tue, 28 Jul 2020 05:12:10 +0000 Hong Kong stocks tied to the new tech index soared on Tuesday as risk-on sentiment returned, catapulting Tencent above Facebook to become the world’s seventh-most valuable company. The new Hang Seng Tech Index of 30 top technology stocks soared 3.5 per cent as investors piled in, gripped by fear of missing out. “The US and China conflict didn’t further escalate after closing one of each other’s consulates. Gold dropped from historical peak. Major tech stocks like Tesla [in the US overnight]... https://www.scmp.com/business/companies/article/3094937/hang-seng-index-china-stocks-gain-moderna-launches-large-scale?utm_source=rss_feed https://www.scmp.com/business/companies/article/3094937/hang-seng-index-china-stocks-gain-moderna-launches-large-scale?utm_source=rss_feed Tue, 28 Jul 2020 02:39:04 +0000 Hong Kong and mainland stocks tanked after Beijing ordered the US to close its consulate in Chengdu, a retaliatory move that added to escalating US-China tensions and became what one analyst called the “last straw” for spooked investors. On the mainland, where stocks have been soaring of late, the sell-off on Friday was fierce. The CSI 300 of large caps in Shanghai and Shenzhen plummeted 4.4 per cent, the Shanghai Composite Index fell 3.9 per cent, and the Shenzhen Composite Index fell 5 per... https://www.scmp.com/business/markets/article/3094484/hong-kong-china-stocks-slide-us-warns-containing-chinas-tyranny?utm_source=rss_feed https://www.scmp.com/business/markets/article/3094484/hong-kong-china-stocks-slide-us-warns-containing-chinas-tyranny?utm_source=rss_feed Fri, 24 Jul 2020 03:09:03 +0000 Hong Kong stocks tumbled in late trading on Wednesday as US-China tensions escalated after the US ordered China’s consulate in the city of Houston to close within 72 hours. In quickly moving news, the Chinese Foreign Ministry said the United States had demanded Beijing close its consulate in the Texas city, calling the move “unprecedented escalation” and threatening retaliation. It was the latest instance of friction between the world’s two largest economies on everything from trade to the South... https://www.scmp.com/business/markets/article/3094180/hong-kong-stocks-rise-investors-remain-upbeat-launch-new-tech?utm_source=rss_feed https://www.scmp.com/business/markets/article/3094180/hong-kong-stocks-rise-investors-remain-upbeat-launch-new-tech?utm_source=rss_feed Wed, 22 Jul 2020 03:47:07 +0000 Ian Dong decided to buy a Roewe RX3 SUV in June, thinking it could help him avoid the huge crowds on public transportation amid the Covid-19 pandemic. “Owning a car was not on my agenda this year, but it is important now since I do not want to take bus or subway during rush hours,” said the 35-year-old employee of a Shanghai state-owned financial institution. “The coronavirus prompted me to spend more than 100,000 yuan [US$14,306] on the SUV – and I think it’s worth it.” China’s car making... https://www.scmp.com/business/money/stock-talk/article/3093820/chinese-car-stocks-get-covid-19-sales-boost-consumers?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3093820/chinese-car-stocks-get-covid-19-sales-boost-consumers?utm_source=rss_feed Sun, 19 Jul 2020 23:00:22 +0000 Hong Kong and mainland stocks stabilised after Thursday’s routs, but trading was cautious on worries China’s policymakers may continue to tap the liquidity brakes amid signs of economic recovery and overheated markets. While Friday’s gains were modest – or in China’s case, slim – the trading day at least was not a repeat of Thursday’s panic selling and gave a much-needed confidence boost in Hong Kong and mainland markets, where investors have been rattled as well by rising US-China tensions and... https://www.scmp.com/business/money/markets-investing/article/3093547/hong-kong-china-stocks-rise-bargain-hunters-swoop?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3093547/hong-kong-china-stocks-rise-bargain-hunters-swoop?utm_source=rss_feed Fri, 17 Jul 2020 02:49:07 +0000 Overheated China stocks saw their biggest daily percentage tumble in more than five months, as traders scrambled for the exits on fears of more cooling measures and tighter monetary policy. The panic selling left the Shanghai Composite Index as the worst percentage performer out of 93 major global indices on Thursday, according to Bloomberg data. Hong Kong – where Chinese stocks account for more than 50 per cent of the market capitalisation of the Hang Seng Index – did not escape the... https://www.scmp.com/business/money/stock-talk/article/3093379/hong-kong-china-stocks-slide-despite-data-showing-pace?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3093379/hong-kong-china-stocks-slide-despite-data-showing-pace?utm_source=rss_feed Thu, 16 Jul 2020 03:26:39 +0000 Hong Kong investors largely shrugged off US President Donald Trump’s move to revoke the special trade status of the city over Beijing’s controversial national security law, instead focusing on the spike in local Covid-19 cases and results of a promising new vaccine. The Hang Seng Index swung 589 points during a session that featured dramatic moves in some recent high fliers like Chinese chip maker Semiconductor Manufacturing International Corp. The benchmark rose 0.01 per cent to... https://www.scmp.com/business/money/stock-talk/article/3093214/hong-kong-stocks-rally-covid-19-vaccine-hopes-traders?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3093214/hong-kong-stocks-rally-covid-19-vaccine-hopes-traders?utm_source=rss_feed Wed, 15 Jul 2020 02:37:22 +0000 Macau casino stocks soared on Tuesday as neighbouring Guangdong province eased Covid-19 travel restrictions that have contributed to massive losses in revenue in the world’s biggest gambling town. Galaxy Entertainment closed with a 6.2 per cent gain at HK$54, after shooting up as much as 11.1 per cent, while Sands China, which also has a huge presence in Macau’s hot Cotai Strip of glittering new casino clusters, finished ahead by 5 per cent at HK$32.35, after jumping as much as 8.9 per... https://www.scmp.com/business/companies/article/3093074/macaus-casino-stocks-surge-guangdong-authorities-relax-travel?utm_source=rss_feed https://www.scmp.com/business/companies/article/3093074/macaus-casino-stocks-surge-guangdong-authorities-relax-travel?utm_source=rss_feed Tue, 14 Jul 2020 05:15:47 +0000 Hong Kong and mainland markets slid, as concerns mount that some stocks may be overheated and the pace of economic recovery in the US – the world’s largest economy – is threatened by a surge in Covid-19 cases. The Hang Seng Index fell 1.1 per cent to 25,477.89 on Tuesday, with losses led by information technology and communication services stocks. A rally of late, including in new economy stocks, propelled the Hang Seng into a bull market last week, and Alan Li, portfolio manager at Atta... https://www.scmp.com/business/money/markets-investing/article/3093049/hong-kong-china-markets-slide-concerns-rise-about?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3093049/hong-kong-china-markets-slide-concerns-rise-about?utm_source=rss_feed Tue, 14 Jul 2020 02:29:14 +0000 Hong Kong stocks advanced, with car makers surging, while mainland shares soared as “fear of missing out” and expectations of China’s recovery drove sentiment despite growing concerns the mainland markets are overheated. The Hang Seng Index advanced 0.2 per cent 25,772.12 on Monday, with commerce and industry stocks leading gains and property stocks retreating. High turnover stocks were Tencent, China’s social media and online gaming giant, which finished down 1 per cent to HK$541, and Alibaba,... https://www.scmp.com/business/money/stock-talk/article/3092887/hong-kongs-hang-seng-index-rises-after-two-straight-weeks?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3092887/hong-kongs-hang-seng-index-rises-after-two-straight-weeks?utm_source=rss_feed Mon, 13 Jul 2020 02:31:04 +0000 Well, that was fast. Bulls wrested control from the bears in Hong Kong just three months after the Black Swan coronavirus sent the Hang Seng Index tumbling and unnerved investors. The low was hit on March 23, a further slide from where the benchmark technically entered bear territory on March 13, about two months after the coronavirus outbreak in mainland China first came to the world’s attention. By last Monday, the benchmark had climbed 20 per cent from its trough, propelling it back into a... https://www.scmp.com/business/money/stock-talk/article/3092842/hong-kongs-hang-seng-index-went-bear-bull-just-over-three?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3092842/hong-kongs-hang-seng-index-went-bear-bull-just-over-three?utm_source=rss_feed Sun, 12 Jul 2020 23:30:14 +0000 Hong Kong and other major Asia-Pacific stocks slid on Friday, as investors continued to balance fears of rising coronavirus cases in the city, the US and elsewhere against signs of China’s steady economic recovery and the huge amount of liquidity around the globe. The Hang Seng Index closed down 1.8 per cent. That was its worst daily decline in nearly four weeks. But it managed to post a 1.4 per cent weekly gain, its second straight weekly advance. Information technology stocks led losses, with... https://www.scmp.com/business/money/stock-talk/article/3092585/hong-kong-stocks-slip-track-second-weekly-gain?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3092585/hong-kong-stocks-slip-track-second-weekly-gain?utm_source=rss_feed Fri, 10 Jul 2020 02:25:23 +0000 Alibaba Group Holding’s market capitalisation ballooned after its shares soared on the New York and Hong Kong markets, helping it vault past Facebook to become the world’s sixth-most valuable company. Shares of the e-commerce and cloud computing giant – also the owner of South China Morning Post – rose 10 per cent in a soaring Hong Kong market to close at a record HK$261.60, after advancing 9 per cent in New York overnight to US$257.68. That gave the Hangzhou-based company nearly HK$5.614... https://www.scmp.com/business/money/stock-talk/article/3092502/alibaba-overtakes-facebook-worlds-sixth-most-valuable?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3092502/alibaba-overtakes-facebook-worlds-sixth-most-valuable?utm_source=rss_feed Thu, 09 Jul 2020 08:54:34 +0000 Hong Kong stocks shook off some jitters to close with a gain, overcoming concerns about a new wave of coronavirus infections in the city, while e-commerce giant Alibaba soared in its biggest one-day percentage gain since debuting in the city in November. The Hang Seng Index climbed 0.3 per cent to 26,210.16 on Thursday, as traders bet on China’s economic recovery story. The Shanghai Composite Index climbed 1.4 per cent, recovering from its own dose of early jitters, recording an eight-session... https://www.scmp.com/business/markets/article/3092424/hong-kong-stocks-continue-gainrally-hopes-economic-recovery?utm_source=rss_feed https://www.scmp.com/business/markets/article/3092424/hong-kong-stocks-continue-gainrally-hopes-economic-recovery?utm_source=rss_feed Thu, 09 Jul 2020 02:33:20 +0000 Hong Kong stocks slipped on profit taking after Monday’s huge surge that propelled the market into bull territory, while China markets continued their run-up on as traders bet on signs of steady economic recovery. The Hang Seng Index rose as much as 1.7 per cent on Tuesday, but then reversed sharply into choppy trading for a 1.4 per cent loss. The benchmark had risen a total of 8.4 per cent over the past four sessions, leading the bulls to wrest control from the bears for the first time since... https://www.scmp.com/business/markets/article/3092091/hong-kong-stocks-see-saw-early-bull-market-trading-while-chinese?utm_source=rss_feed https://www.scmp.com/business/markets/article/3092091/hong-kong-stocks-see-saw-early-bull-market-trading-while-chinese?utm_source=rss_feed Tue, 07 Jul 2020 03:11:10 +0000 Semiconductor Manufacturing International Corp (SMIC), China’s top chip maker, is set to draw heavy subscriptions when it begins offering its 1.686 billion shares to mainland investors on Tuesday, putting the share flotation well on its way to becoming the largest in the A-share market since 2010. The buzz around SMIC has sent its Hong Kong-listed shares soaring. Its shares shot up 21 per cent to HK$40.10 on Monday, marking a fresh all-time high, and they have skyrocketed 236 per cent so far... https://www.scmp.com/business/companies/article/3091963/smic-track-float-chinas-largest-offering-10-years-national-pride?utm_source=rss_feed https://www.scmp.com/business/companies/article/3091963/smic-track-float-chinas-largest-offering-10-years-national-pride?utm_source=rss_feed Mon, 06 Jul 2020 07:00:12 +0000 Hong Kong stocks stampeded their way into a bull market Monday, joining the US and other global exchanges that clawed their way out of bear territory triggered by the coronavirus. How did the Hong Kong bulls wrest control from the bears in just over three months? Investors can thank record mainland inflows, sexy new listings, massive global stimulus, and positive data signalling recovery in China, all of which gave them a much-needed confidence boost, analysts said. Traders also set aside... https://www.scmp.com/business/markets/article/3091926/hong-kong-mainland-stocks-surge-early-trading-bullish-sentiment?utm_source=rss_feed https://www.scmp.com/business/markets/article/3091926/hong-kong-mainland-stocks-surge-early-trading-bullish-sentiment?utm_source=rss_feed Mon, 06 Jul 2020 02:54:47 +0000 China’s home sales continue to rebound, sending developers’ stocks soaring on Thursday and Friday and prompting analysts to urge investors to take a fresh look at the sector now that the country appears to have put the worst of the coronavirus pandemic firmly behind it. Data from China Real Estate Information Corporation (CRIC) earlier this week showed 30 major developers tracked by Jefferies beating market expectations for home sales in June, posting on average a 18 per cent jump year-on-year... https://www.scmp.com/business/companies/article/3091873/coronavirus-fades-china-homebuyers-are-stampeding-back-boosting?utm_source=rss_feed https://www.scmp.com/business/companies/article/3091873/coronavirus-fades-china-homebuyers-are-stampeding-back-boosting?utm_source=rss_feed Sun, 05 Jul 2020 06:47:33 +0000 Hong Kong’s Hang Seng Index posted its biggest – and only second – monthly gain of 2020 in June, a month after the Chinese legislature’s shock announcement of its national security law for Hong Kong. The benchmark has recovered all the losses, and more, since that announcement. The Hang Seng Index rose 0.5 per cent to 24,427.19 Tuesday, snapping a three-session losing streak and leaving it with a 6.4 per cent monthly gain for June, even as China enacted the controversial law. The Hong Kong... https://www.scmp.com/business/article/3091125/hong-kong-china-stocks-rise-after-better-expected-china-factory-data?utm_source=rss_feed https://www.scmp.com/business/article/3091125/hong-kong-china-stocks-rise-after-better-expected-china-factory-data?utm_source=rss_feed Tue, 30 Jun 2020 02:25:55 +0000 Gold has been on fire again, itching to reach a key US$1,800 an ounce resistance level as it heads toward recording its best quarter in four years. The safe haven has gotten a boost from uncertainty around the coronavirus and the world’s economic outlook, among other factors, sparking investors to pile into gold-backed exchanged traded funds (ETFs). So far this year, gold has risen nearly 17 per cent to US$1,771.29 per ounce. It is trading at its highest levels in more than seven years. Reaching... https://www.scmp.com/business/commodities/article/3090907/gold-track-its-best-quarter-2016-flirting-key-us1800-ounce?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3090907/gold-track-its-best-quarter-2016-flirting-key-us1800-ounce?utm_source=rss_feed Sun, 28 Jun 2020 08:00:23 +0000 Battered Hong Kong property stocks have been on a roll over the past four weeks, led by pacesetters Wharf REIC, owner of the Harbour City and Times Square luxury shopping centres, and New World Development. In just over four weeks to Wednesday’s close, Wharf REIC’s share price has shot up nearly 35 per cent, such a rapid rise that it crossed an “overbought” technical warning level this week before slipping a bit. It hasn’t been alone. Since May 29, New World Development has shot up 23 per cent,... https://www.scmp.com/business/money/stock-talk/article/3090509/hong-kongs-battered-property-stocks-find-themselves?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3090509/hong-kongs-battered-property-stocks-find-themselves?utm_source=rss_feed Thu, 25 Jun 2020 02:00:23 +0000 Hong Kong and most other major Asia stock benchmarks slipped, as investors turned cautious amid outbreaks of the coronavirus in mainland China and the US as well as escalating tensions on the Korean peninsula. The Hang Seng Index fell as much as 1.5 per cent in early Thursday trading but narrowed its loss to just 0.1 per cent at the close. US futures turned up, improving sentiment. But the decline snapped a two-session winning streak. JD.com, one of China’s largest e-commerce sites, rose as much... https://www.scmp.com/business/money/stock-talk/article/3089509/hong-kong-asia-stocks-slide-caution-over-coronavirus?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3089509/hong-kong-asia-stocks-slide-caution-over-coronavirus?utm_source=rss_feed Thu, 18 Jun 2020 02:13:30 +0000 Hong Kong and other major Asia-Pacific benchmarks rebounded, tracking gains in US markets over a Federal Reserve corporate bond-buying plan that boosted sentiment even as investors worry about new outbreaks of the coronavirus. The Hang Seng Index gained 2.4 per cent to 24,344.09 on Tuesday, snapping a four-session losing streak and clinching the biggest advance in two weeks. All 50 constituent members advanced. New economy stocks surged in Hong Kong, including Ping An Healthcare and Technology,... https://www.scmp.com/business/money/markets-investing/article/3089190/hong-kong-asia-pacific-stocks-rally-following-us?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3089190/hong-kong-asia-pacific-stocks-rally-following-us?utm_source=rss_feed Tue, 16 Jun 2020 01:54:21 +0000 Shares of Chow Tai Fook Jewellery Group soared Friday as investors looked past disappointing yearly results to bet on the huge jewellery retailer’s comeback strategy of continued expansion in mainland China and cost-cutting in Hong Kong and Macau. Its mainland operations “severely suffered” due to the coronavirus in the year through March 31, but China’s largest jewellery retailer said “we have seen signs of recovery as the business in Mainland China resumes”. Sales have been helped by... https://www.scmp.com/business/money/markets-investing/article/3088780/chow-tai-fook-jewellery-shares-soar-investors-look?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3088780/chow-tai-fook-jewellery-shares-soar-investors-look?utm_source=rss_feed Fri, 12 Jun 2020 07:41:54 +0000 Hong Kong’s benchmark tumbled the most since Beijing moved to tighten its grip over the city, as traders scrambled to lock in profits from a recent rally and concern resurfaced about US-China tensions. The Hang Seng Index fell 2.3 per cent, marking its second straight day of losses following a seven-session rally. That was its biggest percentage fall since its 5.6 per cent drop on May 22, after the Chinese government said it would impose a sweeping and controversial national security law on the... https://www.scmp.com/business/money/article/3088534/hong-kongs-hang-seng-slips-new-economy-stocks-rally-netease-sees?utm_source=rss_feed https://www.scmp.com/business/money/article/3088534/hong-kongs-hang-seng-slips-new-economy-stocks-rally-netease-sees?utm_source=rss_feed Thu, 11 Jun 2020 02:31:30 +0000 Hong Kong stocks rallied for a second consecutive session on Tuesday, as traders continued to brush off US President Donald Trump’s threats to sanction China over steps to increase its grip on the city. The Hang Seng Index advanced 1.1 per cent to 23,995.94, That followed Monday’s 3.4 per cent jump – its biggest one-day increase in more than two months. Traders expressed relief that Trump’s threats last Friday about China’s new security law were short on specifics and a time table. “As there’s... https://www.scmp.com/business/article/3087087/hong-kong-and-china-stocks-open-higher-optimism-over-economic-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3087087/hong-kong-and-china-stocks-open-higher-optimism-over-economic-recovery?utm_source=rss_feed Tue, 02 Jun 2020 02:51:30 +0000 Hong Kong and mainland stocks fell Thursday, following US stocks down after the Federal Reserve chief warned of a rocky path ahead to economic recovery. China Literature rocketed after management at Tencent highlighted future support for its e-reading spin-off in an earnings call. Semiconductor Manufacturing International Corp. also shot up after it posted a huge gain in year-on-year first-quarter profits. Meanwhile, Tencent, the social media and games giant, gained after reporting... https://www.scmp.com/business/money/stock-talk/article/3084307/tencent-shoots-hong-kong-better-expected-results-hang?utm_source=rss_feed https://www.scmp.com/business/money/stock-talk/article/3084307/tencent-shoots-hong-kong-better-expected-results-hang?utm_source=rss_feed Thu, 14 May 2020 02:34:04 +0000 Hong Kong stocks slipped Wednesday while other Asia-Pacific stock benchmarks finished mixed as investors weighed the latest unsettling red flags on the coronavirus front. America’s top virus expert warned reopening businesses too early in the world’s largest economy could trigger a resurgence. Meanwhile, China, where the pandemic originated, found itself dealing with cluster outbreaks of local transmissions of the coronavirus in two of its provinces. “If you think we have it completely under... https://www.scmp.com/business/money/markets-investing/article/3084134/hong-kong-asia-pacific-stocks-slide-us-top?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3084134/hong-kong-asia-pacific-stocks-slide-us-top?utm_source=rss_feed Wed, 13 May 2020 01:57:27 +0000 Hong Kong stocks fell on Tuesday, as traders worried that a possible second wave of coronavirus infections could set back efforts by governments around the globe to lift restrictions on businesses and citizens. The Hang Seng Index declined 1.5 per cent to 24,245.68, snapping a two-session streak of gains. It was the most the index has fallen in a week, after the benchmark tumbled 4.2 per cent – more than 1,000 points – on May 4 over concerns about growing US-China tension. While the US-China... https://www.scmp.com/business/money/article/3084028/hong-kong-and-most-other-asia-pacific-stocks-fall-worries-about?utm_source=rss_feed https://www.scmp.com/business/money/article/3084028/hong-kong-and-most-other-asia-pacific-stocks-fall-worries-about?utm_source=rss_feed Tue, 12 May 2020 09:16:43 +0000 Good morning, traders! First, an important note.  The South China Morning Post continues to experiment with the best ways to give readers timely and analytical coverage of Hong Kong and mainland markets. Starting Wednesday, we will move from the Live Blog format to a more traditional story form that is updated regularly and contains the best of the elements of the Blog -- ratings changes, hot and cold stocks, analyst commentary, charts, etc. Your newsletter will be renamed "Markets Today," and... https://www.scmp.com/business/article/3083921/hong-kong-mainland-stocks-poised-losses-worries-about-re-opening-economies?utm_source=rss_feed https://www.scmp.com/business/article/3083921/hong-kong-mainland-stocks-poised-losses-worries-about-re-opening-economies?utm_source=rss_feed Tue, 12 May 2020 01:27:08 +0000 Hong Kong stocks rallied Monday for the second straight session, as investors banked on additional progress in the coronavirus battle and policy support from China for its ailing economy. China stocks slipped, and markets were mixed elsewhere in the Asia-Pacific region. Investors pinned hopes on countries starting to open up and progress on treatments and vaccines for the new coronavirus, which has infected more than 4.1 million people and killed nearly 300,000 worldwide. Sentiment also got a... https://www.scmp.com/business/article/3083854/hong-kong-stocks-rally-sentiment-remains-upbeat-coronavirus-progress?utm_source=rss_feed https://www.scmp.com/business/article/3083854/hong-kong-stocks-rally-sentiment-remains-upbeat-coronavirus-progress?utm_source=rss_feed Mon, 11 May 2020 10:15:08 +0000