https://www.scmp.com/rss/506789/feed Cheryl joined the Post in 2020 after graduating from the Wee Kim Wee School of Communication and Information in Singapore. Prior to this, she was an intern at Shanghai Daily on the features desk. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Warren Buffett’s Berkshire Hathaway has trimmed its stake in BYD Co, weeks after speculation the legendary US investor was pulling out of its bet on China’s biggest electric vehicle producer and Tesla’s biggest challenger. The stock plunged. Berkshire sold 1.33 million shares at an average of HK$277.10 apiece, valuing the sale at HK$369 million (US$47 million) on August 24, according to a regulatory filing to the Hong Kong stock exchange. The shares traded between HK$257 and HK$272.20 on that... https://www.scmp.com/business/markets/article/3190773/byd-stock-plunges-after-buffetts-berkshire-trims-stake-chinas?utm_source=rss_feed https://www.scmp.com/business/markets/article/3190773/byd-stock-plunges-after-buffetts-berkshire-trims-stake-chinas?utm_source=rss_feed Wed, 31 Aug 2022 02:26:57 +0000 Last week’s landmark US-China audit agreement injected a huge dose of optimism about the fate of Chinese companies traded on American stock exchanges. The same cannot be said for Hong Kong Exchanges and Clearing (HKEX). The city’s bourse operator could see a slower migration of American depositary receipts (ADRs) to Hong Kong and the hoped-for boost from new listings and trading turnover on the Stock Connect trading link with Shanghai and Shenzhen, analysts at Morgan Stanley said. Their caution... https://www.scmp.com/business/markets/article/3190710/us-china-audit-deal-good-news-markets-not-so-bourse-operator-hkex?utm_source=rss_feed https://www.scmp.com/business/markets/article/3190710/us-china-audit-deal-good-news-markets-not-so-bourse-operator-hkex?utm_source=rss_feed Tue, 30 Aug 2022 10:02:56 +0000 The odds of Chinese companies being booted off US exchanges have subsided since reaching an all-time high in March, after regulators on both sides of the divide reached an audit agreement last week, Goldman Sachs said on Monday. Markets are now pricing in around a 50 per cent chance of Chinese companies being delisted based on a new delisting risk model created by the US bank. That compares with a high of 95 per cent in mid-March, when the US Securities and Exchange Commission (SEC) began adding... https://www.scmp.com/business/markets/article/3190521/goldman-sachs-odds-chinese-firms-being-booted-us-exchanges-down?utm_source=rss_feed https://www.scmp.com/business/markets/article/3190521/goldman-sachs-odds-chinese-firms-being-booted-us-exchanges-down?utm_source=rss_feed Mon, 29 Aug 2022 06:10:45 +0000 Global money managers are turning bullish on Chinese electric-vehicle (EV) makers just as production curbs and supply-chain bottlenecks soured outlook and prompted analysts to trim their stock price targets. An MSCI index tracking EV-related stocks surged 36 per cent in May and June, aided by tax incentives to boost consumption and restore confidence in the economy. Since then, industry bearer XPeng has tanked 42 per cent, while Li Auto slumped by 23 per cent while Nio and the broader sector... https://www.scmp.com/business/markets/article/3190465/analysts-turn-less-bullish-xpeng-and-chinese-tesla-challengers?utm_source=rss_feed https://www.scmp.com/business/markets/article/3190465/analysts-turn-less-bullish-xpeng-and-chinese-tesla-challengers?utm_source=rss_feed Mon, 29 Aug 2022 02:30:32 +0000 Hong Kong stocks gained, adding to the biggest jump in four months on Thursday, amid optimism China and the US will break a deadlock on access to audit papers of Chinese companies. The Hang Seng Index climbed 1 per cent to 20,170.04 on Friday. The benchmark rose 2 per cent this week from a five-month low, arresting a two-week slump. The Tech Index advanced 0.8 per cent, while the Shanghai Composite Index slipped 0.3 per cent. Alibaba Group Holding strengthened 2.1 per cent to HK$95.80. Meituan... https://www.scmp.com/business/markets/article/3190230/alibaba-jdcom-meituan-add-hong-kong-stock-rally-amid-reports?utm_source=rss_feed https://www.scmp.com/business/markets/article/3190230/alibaba-jdcom-meituan-add-hong-kong-stock-rally-amid-reports?utm_source=rss_feed Fri, 26 Aug 2022 02:32:09 +0000 Stocks in mainland China traded at a three week low as measures to shore up the local economy failed to convince traders as Covid-19 curbs and a power crisis disrupted production. The Shanghai Composite Index fell 0.1 per cent to 3,214 at 10.50am local time, the lowest since August 3. The CSI 300 Index, which tracks the most valuable companies on the Shanghai and Shenzhen exchanges, lost 0.2 per cent. The morning trading session in Hong Kong was cancelled on typhoon warning. Hong Kong markets... https://www.scmp.com/business/markets/article/3190094/chinese-stocks-waver-policy-measures-fail-overcome-concerns-about?utm_source=rss_feed https://www.scmp.com/business/markets/article/3190094/chinese-stocks-waver-policy-measures-fail-overcome-concerns-about?utm_source=rss_feed Thu, 25 Aug 2022 02:42:47 +0000 Hong Kong stocks surged by the most in four months from a five-month low after Beijing unveiled further stimulus to boost the economy amid Covid-19 and power crises. Alibaba Group and JD.com powered tech gains on speculation about progress to tackle US delisting risk. The Hang Seng Index surged 3.6 per cent to 19,968.38 at the close of Thursday trading, the most since a 4 per cent jump on April 29, after a typhoon warning shuttered the morning trading session. The Tech Index jumped 6 per cent,... https://www.scmp.com/business/article/3190086/hong-kong-markets-halted-morning-session-typhoon-warning-china-tourism?utm_source=rss_feed https://www.scmp.com/business/article/3190086/hong-kong-markets-halted-morning-session-typhoon-warning-china-tourism?utm_source=rss_feed Thu, 25 Aug 2022 01:32:37 +0000 China’s top leadership is pre-occupied with political manoeuvring to agree on a rescue plan to end the housing slump, while intensifying geopolitical risk means Chinese assets will be volatile under the current administration and only selectively investable, strategists, said. Hopes for some sort of intervention by Beijing to overcome a slump in the housing sector is “wishful thinking”, said Lawrence Brainard, chief emerging markets economist at London-based research firm TS Lombard. China’s... https://www.scmp.com/business/markets/article/3189987/housing-slump-threatens-china-dream-while-geopolitics-make-chinese?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189987/housing-slump-threatens-china-dream-while-geopolitics-make-chinese?utm_source=rss_feed Wed, 24 Aug 2022 06:01:53 +0000 Hong Kong stocks slumped to a five-month low amid losses among Chinese carmakers as vehicle deliveries suffered from supply-chain disruptions and weak consumer confidence, undermining corporate earnings outlook. The Hang Seng Index lost 1.2 per cent to 19,268.74 at the close of Wednesday trading, the lowest since March 15. The Tech Index lost 2.8 per cent, while the Shanghai Composite Index slipped 1.9 per cent. Geely Automobile retreated 4.5 per cent to HK$15.40 while BYD lost 5.2 per cent to... https://www.scmp.com/business/markets/article/3189960/hong-kong-stocks-hit-5-month-low-alibaba-slides-while-geely-and?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189960/hong-kong-stocks-hit-5-month-low-alibaba-slides-while-geely-and?utm_source=rss_feed Wed, 24 Aug 2022 02:32:40 +0000 Hong Kong stocks slumped to the lowest level in more than three months, tracking overnight losses in US equities, while markets struggled with uninspiring domestic corporate earnings. The Hang Seng Index fell 0.8 per cent to 19,503.25 at the close of Tuesday trading, a level not seen since May 12. The Tech Index retreated 0.3 per cent while the Shanghai Composite Index slipped less than 0.1 per cent. Companies slated to report their earnings on Tuesday weakened, with Ping An Insurance dropping... https://www.scmp.com/business/markets/article/3189830/hong-kong-stocks-slump-3-month-low-weak-earnings-season-recession?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189830/hong-kong-stocks-slump-3-month-low-weak-earnings-season-recession?utm_source=rss_feed Tue, 23 Aug 2022 02:27:05 +0000 Hansoh Pharmaceuticals jumped as much as 7.2 per cent in Hong Kong after the stock was picked with three others to join the benchmark Hang Seng Index from next month, thrusting China’s sixth richest woman into the limelight. The stock traded as high as HK$16.62 before settling 3.2 per cent higher at HK$16 when trading closed on Monday, leading gains among new index members after the latest quarterly review. The increase added almost HK$3 billion (US$377 million) of market value to the group. The... https://www.scmp.com/business/markets/article/3189711/chinese-billionaire-behind-hansoh-pharma-enriched-hang-seng-index?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189711/chinese-billionaire-behind-hansoh-pharma-enriched-hang-seng-index?utm_source=rss_feed Mon, 22 Aug 2022 03:33:00 +0000 Hong Kong stocks fell to its lowest in almost two weeks despite Chinese banks cutting their key lending rates, amid concerns about the impact on the economy of worsening Covid-19 outbreaks and a looming energy crisis. The Hang Seng Index lost 0.6 per cent to 19,656.98 at the close of Monday trading, after gaining about 0.3 per cent earlier. The benchmark retreated 2 per cent last week. The Tech Index fell 1 per cent, while the Shanghai Composite Index added 0.6 per cent. Tencent fell 1.4 per... https://www.scmp.com/business/markets/article/3189699/hong-kong-stocks-drop-covid-19-outbreaks-and-sichuan-power-crisis?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189699/hong-kong-stocks-drop-covid-19-outbreaks-and-sichuan-power-crisis?utm_source=rss_feed Mon, 22 Aug 2022 02:27:43 +0000 The Hang Seng Indexes Company will add four stocks including artificial intelligence giant Baidu and China Shenhua Energy to the city’s stock benchmark from next month, boosting the index capitalisation by HK$696 billion (US$88.7 billion) in the latest quarterly review. Together with Chow Tai Fook Jewellery and Hansoh Pharmaceutical Group, the quartet will join the index from September 5, the index compiler said in a statement on Friday. Unlike the last review in May, no constituents were... https://www.scmp.com/business/markets/article/3189561/baidu-shenhua-energy-included-hang-seng-index-quarterly-revamp?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189561/baidu-shenhua-energy-included-hang-seng-index-quarterly-revamp?utm_source=rss_feed Fri, 19 Aug 2022 13:31:25 +0000 Bona Film Group, China’s top-grossing movie producer and distributor, surged by the maximum 44 per cent in its Shenzhen trading debut, the latest among mainland Chinese companies that have returned home after quitting American stock exchanges. The stock opened at 6.04 yuan and closed at the upper limit of 7.24 yuan on Thursday, giving it a market capitalisation of just under 10 billion yuan (US$1.5 billion). The Beijing-based company raised 1.38 billion yuan from the sale of 274.9 million shares... https://www.scmp.com/business/markets/article/3189322/chinese-movie-studio-bona-film-gets-us15-billion-valuation?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189322/chinese-movie-studio-bona-film-gets-us15-billion-valuation?utm_source=rss_feed Thu, 18 Aug 2022 06:31:27 +0000 Some fund managers are turning bullish on Chinese equities amid expectations that Beijing will implement more policy support and open liquidity to prop up the slowing economy, which will have a “multiplier effect on boosting consumption”. China is one of the few bright spots in the world now, with low inflation making room for more liquidity and policy support a key reason for turning overweight on Chinese stocks from neutral, said Abel Lim, head of wealth management advisory and strategy at... https://www.scmp.com/business/markets/article/3189309/singapores-uob-sees-chinese-stocks-outperforming-second-half?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189309/singapores-uob-sees-chinese-stocks-outperforming-second-half?utm_source=rss_feed Thu, 18 Aug 2022 05:10:22 +0000 Sea Limited, owner of Southeast Asia’s biggest e-commerce platform Shopee, recorded wider losses amid a myriad of market challenges. Its stock has slumped as Tencent Holdings sold, while big guns like Temasek Holdings to Bridgewater Associates jumped in. The Tencent-backed consumer technology group said net loss more than doubled to US$931.2 million in the second quarter, missing consensus estimates of about US$655 million based on Refinitiv data. Revenue jumped 29 per cent to US$2.9 billion,... https://www.scmp.com/business/article/3189204/sea-owner-shopee-e-commerce-platform-reports-wider-loss-after-tencent-cuts?utm_source=rss_feed https://www.scmp.com/business/article/3189204/sea-owner-shopee-e-commerce-platform-reports-wider-loss-after-tencent-cuts?utm_source=rss_feed Wed, 17 Aug 2022 07:23:35 +0000 Chinese property stocks surged in Hong Kong on Tuesday following a report that regulators planned to support some developers’ yuan-denominated bonds, boosting sentiment in the crisis-hit sector. The Hang Seng Mainland Properties Index jumped 5.8 per cent, the most in almost two months. Gains were led by CIFI Holdings, which rallied 12.9 per cent to HK$2.10. Longfor Group soared 12.4 per cent to HK$24.90, while Country Garden surged 9.1 per cent to HK$2.53. Chinese regulators plan to instruct... https://www.scmp.com/business/markets/article/3189069/chinese-property-developers-surge-hong-kong-amid-reports?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189069/chinese-property-developers-surge-hong-kong-amid-reports?utm_source=rss_feed Tue, 16 Aug 2022 07:47:20 +0000 Temasek Holdings’ stock bets shrank by the most in more than 17 years after taking some cash off the table and incurring steep paper losses on BlackRock, Amazon, PayPal and Airbnb. It retained most of its stakes in Alibaba Group Holding and other Chinese stocks. The Singapore state investment firm held 97 stocks valued at US$18.33 billion on June 30, according to its 13F regulatory filing with the Securities and Exchange Commission late on Monday. It listed 96 stocks worth US$23.97 billion on... https://www.scmp.com/business/markets/article/3189058/singapores-temasek-stock-bets-shrink-us56-billion-sales-price?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189058/singapores-temasek-stock-bets-shrink-us56-billion-sales-price?utm_source=rss_feed Tue, 16 Aug 2022 06:48:42 +0000 Hong Kong stocks tumbled as Meituan plunged following a report saying Tencent Holdings was cutting its stake in the food-delivery platform operator to appease regulators. Stocks also weakened as economic slowdown and lockdowns soured earnings outlook. The Hang Seng Index fell 1.1 per cent to 19,830.10 at the close of Tuesday trading to a one-week low. The Tech Index retreated 2 per cent while the Shanghai Composite Index added 0.1 per cent. Meituan sank 9.1 per cent to HK$164.50. Tencent added... https://www.scmp.com/business/markets/article/3189014/most-hong-kong-stocks-gain-speculation-china-inject-more-stimulus?utm_source=rss_feed https://www.scmp.com/business/markets/article/3189014/most-hong-kong-stocks-gain-speculation-china-inject-more-stimulus?utm_source=rss_feed Tue, 16 Aug 2022 02:20:34 +0000 Bridgewater Associates, the world’s biggest hedge fund, sold its US$1 billion worth of holdings in five major Chinese technology stocks last quarter after a drubbing from a regulatory crackdown and heightened delisting pressure. The Connecticut-based firm dumped all of its stakes in Alibaba Group Holding, Bilibili, NetEase and JD.com in the three months to June 30, according to its latest 13F filing early on Friday with the Securities and Exchange Commission (SEC). The fund also completely... https://www.scmp.com/business/markets/article/3188652/dalios-bridgewater-exits-alibaba-jdcom-netease-bilibili-and-didi?utm_source=rss_feed https://www.scmp.com/business/markets/article/3188652/dalios-bridgewater-exits-alibaba-jdcom-netease-bilibili-and-didi?utm_source=rss_feed Fri, 12 Aug 2022 06:07:27 +0000 Hong Kong stocks advanced, adding to Thursday’s hefty jump from before reports next week signalling better growth momentum in China’s economy. Oil producers climbed as crude prices strengthened. The Hang Seng Index added 0.5 per cent to 20,175.62 at the close of Friday trading, reversing an earlier loss. The benchmark rose 2.4 per cent a day earlier, the most in three weeks. The Tech Index gained 0.6 per cent, while the Shanghai Composite Index slipped 0.2 per cent. Li Ning rallied 4.8 per cent... https://www.scmp.com/business/markets/article/3188614/hong-kong-stocks-set-weekly-loss-fresh-reports-chinas-economic?utm_source=rss_feed https://www.scmp.com/business/markets/article/3188614/hong-kong-stocks-set-weekly-loss-fresh-reports-chinas-economic?utm_source=rss_feed Fri, 12 Aug 2022 02:35:10 +0000 Hong Kong stocks rose by the most in three weeks following overnight gains in New York, as slower-than-forecasted US inflation lessened the pressure on the US Federal Reserve to conduct an “out-of-cycle” tightening of monetary policy before its next scheduled meeting in late September. The Hang Seng Index advanced 2.4 per cent to 20,082.43 at the close of Thursday trading, shaking off three consecutive days of losses totalling 3 per cent. The Tech Index gained 3.7 per cent, while the Shanghai... https://www.scmp.com/business/markets/article/3188476/hong-kong-stocks-rise-one-week-high-lower-expected-us-inflation?utm_source=rss_feed https://www.scmp.com/business/markets/article/3188476/hong-kong-stocks-rise-one-week-high-lower-expected-us-inflation?utm_source=rss_feed Thu, 11 Aug 2022 02:35:36 +0000 Hong Kong stocks slumped after consumer prices in mainland China increased by the most in two years, limiting room for further monetary stimulus. Regional markets also weakened before a US inflation report while US-China tech rivalry intensified. The Hang Seng Index retreated 2 per cent to 19,610.84 at the close of Wednesday trading, its biggest setback in more than a week. The Tech Index declined 2.8 per cent, while the Shanghai Composite Index fell 0.5 per cent. Alibaba Group Holding slipped... https://www.scmp.com/business/markets/article/3188354/hang-seng-slips-below-20000-meituan-jdcom-geely-pacing-losses?utm_source=rss_feed https://www.scmp.com/business/markets/article/3188354/hang-seng-slips-below-20000-meituan-jdcom-geely-pacing-losses?utm_source=rss_feed Wed, 10 Aug 2022 02:47:00 +0000 The airline industry may still be struggling to regain its pre-pandemic lustre. It may not matter that much for shareholders of Cathay Pacific Airways, who are enjoying a “full recovery” as far as the stock market is concerned. The carrier’s stock has steadily climbed 34 per cent this year in Hong Kong, including a 0.9 per cent rise to HK$8.60 on Wednesday, the highest level since March 2020. The rebound has helped recoup HK$24.7 billion (US$3.1 billion) of market capitalisation it lost since... https://www.scmp.com/business/markets/article/3188353/cathay-pacific-investors-ride-full-recovery-us31-billion-post?utm_source=rss_feed https://www.scmp.com/business/markets/article/3188353/cathay-pacific-investors-ride-full-recovery-us31-billion-post?utm_source=rss_feed Wed, 10 Aug 2022 02:14:57 +0000 Hong Kong stocks slipped toward a psychological level as Covid-19 lockdowns clouded earnings outlook for tech stocks amid ongoing cross-strait tensions. Property developers swung amid confusion over a tax waiver plan for home purchases. The Hang Seng Index fell 0.2 per cent to 20,003.44 at the close of Tuesday trading, after swinging between gains and losses by about 1 per cent. The Tech Index declined 0.9 per cent, while the Shanghai Composite Index added 0.3 per cent. Meituan weakened 2 per... https://www.scmp.com/business/markets/article/3188230/meituan-jdcom-drag-hong-kong-stocks-china-lockdowns-cloud-earnings?utm_source=rss_feed https://www.scmp.com/business/markets/article/3188230/meituan-jdcom-drag-hong-kong-stocks-china-lockdowns-cloud-earnings?utm_source=rss_feed Tue, 09 Aug 2022 02:36:17 +0000 Hong Kong stocks fell from a one-week high on concerns new lockdowns in mainland Chinese cities will disrupt efforts to reboot the economy, adding to a widening US-China rift over Taiwan-related issues. A strong job report also put policy tightening in the US back in focus. The Hang Seng Index retreated 0.8 per cent to 20,045.77 at the close of Monday trading. The Tech Index lost 1.8 per cent, while the Shanghai Composite Index added 0.3 per cent. Alibaba Group Holding slumped 4.4 per cent to... https://www.scmp.com/business/markets/article/3188063/hong-kong-stocks-slip-alibaba-tencent-lead-losses-amid-new-china?utm_source=rss_feed https://www.scmp.com/business/markets/article/3188063/hong-kong-stocks-slip-alibaba-tencent-lead-losses-amid-new-china?utm_source=rss_feed Mon, 08 Aug 2022 02:45:36 +0000 Offshore investors dumped US$3.1 billion worth of mainland Chinese stocks in July, turning net sellers for the first time since March, according to exchange data. They sold a net of 21 billion yuan (US$3.1 billion) worth of A shares last month, according to data from the Stock Connect, a key scheme connecting the mainland and Hong Kong exchanges. The last time mainland stocks saw net selling was in March, when 45 billion yuan worth was dumped. Among the top stocks offloaded by foreign investors... https://www.scmp.com/business/markets/article/3187868/byd-catl-and-kweichow-moutai-among-biggest-losers-offshore?utm_source=rss_feed https://www.scmp.com/business/markets/article/3187868/byd-catl-and-kweichow-moutai-among-biggest-losers-offshore?utm_source=rss_feed Fri, 05 Aug 2022 09:01:52 +0000 Chinese stocks, which dominate trading in Hong Kong, are cheap enough for investors to replenish their portfolios, some fund managers argue, compensating for the uncertainty over the full reopening of the economies. July’s 7.8 per cent slide in the Hang Seng Index, the most in a year, sent the market into a technical correction and shrank the price-multiple to 9.7 times current earnings, from as high as 11.7 times in January, according to Refinitiv data. The last time the market was cheaper on... https://www.scmp.com/business/markets/article/3187413/chinese-stocks-get-cheaper-money-managers-who-dont-want-be-late?utm_source=rss_feed https://www.scmp.com/business/markets/article/3187413/chinese-stocks-get-cheaper-money-managers-who-dont-want-be-late?utm_source=rss_feed Tue, 02 Aug 2022 07:35:42 +0000 Hong Kong stocks fell to its lowest in nine weeks as Alibaba Group Holding to Meituan paced losses amid renewed regulatory concerns. China’s top leaders offered a relatively limited new stimulus, while pledging to stick to its zer0-Covid strategy. The Hang Seng Index slumped 2.3 per cent to 20,156.51 at the close of Friday trading, bringing its losses this month to 7.8 per cent. It is the worst monthly performance in 12 months and also more than 10 per cent from the peak in June, sending the... https://www.scmp.com/business/money/article/3186979/alibaba-meituan-sink-hong-kong-stocks-2-week-low-regulatory-pressure?utm_source=rss_feed https://www.scmp.com/business/money/article/3186979/alibaba-meituan-sink-hong-kong-stocks-2-week-low-regulatory-pressure?utm_source=rss_feed Fri, 29 Jul 2022 02:45:04 +0000 Daiwa Capital Markets analysts are betting that Chinese internet stocks will benefit the most from policy stimulus and a clearer picture of the direction of earnings in the second half of the year. The so-called platform economy is one of the most promising areas for policymakers to boost growth, given that other possibilities such as infrastructure and property stimulus are restricted by local governments’ strained fiscal budgets, said Daiwa Research analyst Patrick Pan, in a report dated July... https://www.scmp.com/business/markets/article/3186800/alibaba-meituan-are-top-picks-daiwa-sector-upgrade-internet-stocks?utm_source=rss_feed https://www.scmp.com/business/markets/article/3186800/alibaba-meituan-are-top-picks-daiwa-sector-upgrade-internet-stocks?utm_source=rss_feed Thu, 28 Jul 2022 03:00:32 +0000 Hong Kong stocks slipped after policymakers raised the city’s key interest rate to a three-year high in lockstep with an expected Federal Reserve hike. Banks and property developers led losses on concerns the move will weigh on the economy. The Hang Seng Index dropped 0.2 per cent to 20,622.68 at the close of Thursday trading for a second day of decline. The Tech Index gained 0.4 per cent, while the Shanghai Composite Index added 0.2 per cent. Insurer AIA Group lost 0.9 per cent to HK$79.90... https://www.scmp.com/business/money/article/3186841/hong-kong-stocks-weaken-aia-banks-developers-pacing-losses-higher?utm_source=rss_feed https://www.scmp.com/business/money/article/3186841/hong-kong-stocks-weaken-aia-banks-developers-pacing-losses-higher?utm_source=rss_feed Thu, 28 Jul 2022 02:17:28 +0000 Hong Kong stocks fell as Alibaba Group Holding surrendered most of Tuesday’s rally and traders focused on potential weakness in corporate earnings and tighter US rate policy. Country Garden sank following a share placement plan. The Hang Seng Index retreated 1.3 per cent to 20,670.04 at the close of Wednesday trading, the most in a week. The benchmark has declined 5.4 per cent in July, set for the worst month since November. The Tech Index lost 1.3 per cent, while the Shanghai Composite Index... https://www.scmp.com/business/markets/article/3186703/hong-kong-stocks-slip-alibaba-surrenders-gain-hsbc-drops-earnings?utm_source=rss_feed https://www.scmp.com/business/markets/article/3186703/hong-kong-stocks-slip-alibaba-surrenders-gain-hsbc-drops-earnings?utm_source=rss_feed Wed, 27 Jul 2022 02:33:28 +0000 Hong Kong stocks jumped by the most in a week, led by Alibaba Group Holding after the e-commerce group sought a primary listing status to court more investors. Chinese developers extended gains on media reports about a state rescue fund. The Hang Seng Index added 1.7 per cent to 20,905.88 at the close of Tuesday trading, rising from a one-week low. The Tech Index gained 1.4 per cent, while the Shanghai Composite Index rose 0.8 per cent. Alibaba soared 4.8 per cent to HK$104.40, the most in four... https://www.scmp.com/business/markets/article/3186583/alibaba-lifts-hong-kong-stock-market-best-gain-two-weeks-primary?utm_source=rss_feed https://www.scmp.com/business/markets/article/3186583/alibaba-lifts-hong-kong-stock-market-best-gain-two-weeks-primary?utm_source=rss_feed Tue, 26 Jul 2022 02:05:04 +0000 Hong Kong stocks fell as Goldman Sachs lowered its targets for Chinese stocks on earnings drag, while traders lightened positions before another expected rate increase in the US this week. Gains in Chinese developers mitigated losses. The Hang Seng Index retreated 0.2 per cent to a one-week low of 20,562.94 at the close of Monday trading. The benchmark rose 1.5 per cent last week, the best weekly gain in July. The Tech Index slumped 1.4 per cent, while the Shanghai Composite Index declined 0.6... https://www.scmp.com/business/markets/article/3186441/stocks-slide-goldman-trims-targets-chinese-stocks-property-drag?utm_source=rss_feed https://www.scmp.com/business/markets/article/3186441/stocks-slide-goldman-trims-targets-chinese-stocks-property-drag?utm_source=rss_feed Mon, 25 Jul 2022 02:35:21 +0000 Chinese equities could still deliver as much as 20 per cent upside by year end as policymakers in Beijing step up stimulus spending to revive growth momentum after the economy stumbled last quarter, according to Citigroup. Infrastructure investments rose by 7.1 per cent in the first six months this year, according to government data, against the US bank’s forecast for a 7.7 per cent annual gain. That will augment measures by the central bank and other authorities to inject more liquidity, lower... https://www.scmp.com/business/markets/article/3185658/citigroup-sees-another-20-cent-upside-chinese-stocks-year-spending?utm_source=rss_feed https://www.scmp.com/business/markets/article/3185658/citigroup-sees-another-20-cent-upside-chinese-stocks-year-spending?utm_source=rss_feed Mon, 18 Jul 2022 08:14:14 +0000 Hong Kong stocks surged by the most in six weeks as traders bet on policy support in China after the mainland economy stumbled last quarter amid Covid-19 fallouts. Developers led gains after authorities moved to ease a credit and housing crisis. The Hang Seng Index rose 2.7 per cent to 20,820.87 at the close of Monday trading, its strongest gain since June 6. The benchmark slumped 6.5 per cent last week, the worst in two years. The Tech Index added 3 per cent while the Shanghai Composite Index... https://www.scmp.com/business/markets/article/3185617/hong-kong-stocks-climb-developers-pace-rebound-traders-betting?utm_source=rss_feed https://www.scmp.com/business/markets/article/3185617/hong-kong-stocks-climb-developers-pace-rebound-traders-betting?utm_source=rss_feed Mon, 18 Jul 2022 02:31:14 +0000 Hong Kong stocks slumped after China’s economy expanded at the slowest pace in two years, sending the market to its worst week since March 2020. An inquiry into an alleged data leak pummelled Alibaba Group Holding and other tech peers. The Hang Seng Index retreated 2.2 per cent to 20,297.72 at the close of Friday trading, its fifth day of decline. It also marked a 6.5 per cent loss for the week. The Tech Index lost 3.2 per cent, while the Shanghai Composite Index declined 1.6 per cent. Alibaba... https://www.scmp.com/business/markets/article/3185350/hong-kong-stocks-drop-fifth-day-alibaba-faces-scrutiny-over-data?utm_source=rss_feed https://www.scmp.com/business/markets/article/3185350/hong-kong-stocks-drop-fifth-day-alibaba-faces-scrutiny-over-data?utm_source=rss_feed Fri, 15 Jul 2022 02:09:05 +0000 Global funds are turning China’s uncorrelated stocks into a one-way bet by banking on monetary easing while other major central banks are tightening, opening themselves to risks from policy and regulatory shocks and lockdown jitters. AllianceBernstein, Amundi and Credit Suisse are among a horde of money managers and investment banks calling for a bullish second half. Goldman Sachs predicts Chinese stocks will climb by 16 to 19 per cent by year end from here, while UBS Wealth Management sees a... https://www.scmp.com/business/china-business/article/3185259/chinas-uncorrelated-stocks-are-turning-one-way-bet-money?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3185259/chinas-uncorrelated-stocks-are-turning-one-way-bet-money?utm_source=rss_feed Thu, 14 Jul 2022 23:30:19 +0000 Hong Kong stocks fell toward a seven-week low as investors dumped Chinese property developers amid a deepening credit crunch after homebuyers threatened to stop paying for their purchases in abandoned projects. Alibaba and JD.com kept tech stocks higher. The Hang Seng Index retreated 0.2 per cent to 20,751.22 at the close of Thursday trading. The index has weakened in four straight days, the longest stretch in two months. The Hang Seng Tech Index added 0.9 per cent, while the Shanghai Composite... https://www.scmp.com/business/markets/article/3185218/hong-kong-stocks-trade-near-six-week-low-traders-dump-chinese?utm_source=rss_feed https://www.scmp.com/business/markets/article/3185218/hong-kong-stocks-trade-near-six-week-low-traders-dump-chinese?utm_source=rss_feed Thu, 14 Jul 2022 02:49:00 +0000 Hong Kong stocks slipped to their lowest level in almost seven weeks as property developers dragged down earlier gains bolstered by the possibility of conditional quarantine-free travel by November. The Hang Seng Index fell 0.2 per cent to 20,797.95 at the close on Wednesday, marking the third consecutive day of losses and the lowest close since May 27. The Tech Index advanced 0.5 per cent, while the Shanghai Composite Index added 0.1 per cent. Country Garden sank 8.5 per cent to HK$3.67, while... https://www.scmp.com/business/markets/article/3185088/hong-kong-stocks-rise-six-week-low-potential-quarantine-free?utm_source=rss_feed https://www.scmp.com/business/markets/article/3185088/hong-kong-stocks-rise-six-week-low-potential-quarantine-free?utm_source=rss_feed Wed, 13 Jul 2022 02:21:56 +0000 Temasek Holdings said the risk-reward profile in Chinese assets remains more balanced as valuations have cheapened and policymakers in Beijing have greater monetary tools to support the economy. China has attracted fund inflows over the past two months, as it becomes the only major economy on a policy-easing bias. The Federal Reserve and other major Western economies in Europe and Australia started raising interest rates to overcome inflation at multi-decade highs, stoking recession... https://www.scmp.com/business/markets/article/3184999/temasek-sees-more-balanced-risk-reward-china-markets-after-recent?utm_source=rss_feed https://www.scmp.com/business/markets/article/3184999/temasek-sees-more-balanced-risk-reward-china-markets-after-recent?utm_source=rss_feed Tue, 12 Jul 2022 09:01:15 +0000 Hong Kong’s stock benchmark slumped to the lowest in more than six weeks amid a surge in coronavirus cases in Shanghai as China’s zero-Covid policy and tech-sector crackdown continue to subject any market recovery to sudden shocks. The Hang Seng Index retreated 1.3 per cent to 20,844.74 at the close of Tuesday trading, the lowest level since May 27. The Tech Index lost 2.1 per cent, while the Shanghai Composite Index fell 1 per cent. Alibaba Group Holding, the owner of this newspaper, sank 5.4... https://www.scmp.com/business/china-business/article/3184951/alibaba-byd-drag-hong-kong-stocks-three-week-low-covid-19?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3184951/alibaba-byd-drag-hong-kong-stocks-three-week-low-covid-19?utm_source=rss_feed Tue, 12 Jul 2022 02:45:17 +0000 Hong Kong stocks fell by the most in a month after Shanghai and Macau saw flare-ups in coronavirus cases, reigniting worries of restrictions weighing down growth. Casino stocks fell sharply, while Chinese tech stalwarts sank on penalties imposed by regulators. The Hang Seng Index retreated 2.8 per cent to 21,124.20 at the close of Monday trading, its biggest drop since June 13, adding to last week’s 0.6 per cent decline. The Tech Index fell 3.9 per cent, while the Shanghai Composite Index lost... https://www.scmp.com/business/markets/article/3184811/hong-kong-stocks-see-sharpest-drop-two-weeks-amid-shanghai-macau?utm_source=rss_feed https://www.scmp.com/business/markets/article/3184811/hong-kong-stocks-see-sharpest-drop-two-weeks-amid-shanghai-macau?utm_source=rss_feed Mon, 11 Jul 2022 02:41:50 +0000 More investors are looking at Chinese equities in a positive light, with the benchmark MSCI China Index clinching its best month since January 2021. Better regulatory signals and tweaks to Beijing’s zero-Covid policy will be key to sustaining the recovery, strategists said. China made some changes to its anti-pandemic curbs late last month by shortening quarantine days, while restrictions on intercity travel were also relaxed. Authorities have also highlighted the role of fintech and... https://www.scmp.com/business/markets/article/3183796/not-too-late-chase-chinese-stocks-still-near-near-bottom-credit?utm_source=rss_feed https://www.scmp.com/business/markets/article/3183796/not-too-late-chase-chinese-stocks-still-near-near-bottom-credit?utm_source=rss_feed Fri, 01 Jul 2022 07:00:56 +0000 Hong Kong stocks weakened, trimming the best monthly gain since October, as Tencent Holdings came under selling pressure from corporate insiders. SenseTime crashed after a stock lock-up expired. Signs of recovery in Chinese manufacturing tempered losses. The Hang Seng Index slipped 0.6 per cent to 21,859.79 at the close of trading, while the Tech Index lost 1.4 per cent. The Shanghai Composite Index strengthened 1.1 per cent. Financial markets in Hong Kong will be closed on Friday for a... https://www.scmp.com/business/markets/article/3183586/hong-kong-stocks-set-best-month-october-china-outlook-brightens?utm_source=rss_feed https://www.scmp.com/business/markets/article/3183586/hong-kong-stocks-set-best-month-october-china-outlook-brightens?utm_source=rss_feed Thu, 30 Jun 2022 02:58:41 +0000 Shares of the Chinese electric-car maker Nio plunged in New York, Singapore and Hong Kong trading after the short-seller Grizzly Research published a report claiming that the Shanghai-based start-up had inflated its revenue figures. Nio shares tumbled 11.4 per cent to HK$165.50 in Hong Kong on Wednesday, their biggest fall in almost two months, and sank 11.4 per cent in Singapore. The stock dropped 2.6 per cent overnight on the New York exchange. Nio used its Wuhan Weineng battery venture to... https://www.scmp.com/business/markets/article/3183470/electric-cars-nios-shares-plunge-hong-kong-singapore-amid-short?utm_source=rss_feed https://www.scmp.com/business/markets/article/3183470/electric-cars-nios-shares-plunge-hong-kong-singapore-amid-short?utm_source=rss_feed Wed, 29 Jun 2022 05:11:39 +0000 Hong Kong stocks fell by the most in a week, mirroring regional peers on recession worries, tempering a relief rally in mainland Chinese stocks from easier quarantine rules. Nio slumped after a short-seller said the carmaker inflated its revenue. The Hang Seng Index retreated 1.9 per cent to 21,996.89 at the close of Wednesday trading, after a 6.6 per cent winning streak over the last four sessions. The Hang Seng Tech Index fell 3.3 per cent, while the Shanghai Composite Index declined 1.4 per... https://www.scmp.com/business/money/article/3183443/hong-kong-stocks-fall-recession-worries-led-ev-makers-after-report?utm_source=rss_feed https://www.scmp.com/business/money/article/3183443/hong-kong-stocks-fall-recession-worries-led-ev-makers-after-report?utm_source=rss_feed Wed, 29 Jun 2022 02:32:30 +0000 Hong Kong stocks rose, erasing losses as travel-related stocks surged after China’s announcement that it would ease quarantine rules raised hopes that the country could ease border controls soon. The Hang Seng Index rose 0.9 per cent to 22,418.97 at the close of Tuesday trading, bringing its four-day gains to 6.6 per cent. The gauge is now on its longest winning streak in almost six weeks. The Hang Seng Tech Index added 0.6 per cent, while the Shanghai Composite Index strengthened 0.9 per... https://www.scmp.com/business/markets/article/3183295/hong-kong-stocks-retreat-3-month-high-tencent-leads-losses-after?utm_source=rss_feed https://www.scmp.com/business/markets/article/3183295/hong-kong-stocks-retreat-3-month-high-tencent-leads-losses-after?utm_source=rss_feed Tue, 28 Jun 2022 02:23:54 +0000 Taiwanese stocks are getting no love as the US and China dialled up cross-strait tensions several notches higher, foreign investors dumped their holdings at a record pace and equity funds suffered 20 to 40 per cent losses. While geopolitical risk has been a key market feature, signs of a spillover from specific stocks to the broader market are worrisome, according to Goldman Sachs. Four other reasons – Federal Reserve rate hikes, recession, US dollar strength and China slowdown – prompted the US... https://www.scmp.com/business/money/article/3183110/taiwan-stocks-facing-big-bully-prompt-goldman-retreat-cross-strait?utm_source=rss_feed https://www.scmp.com/business/money/article/3183110/taiwan-stocks-facing-big-bully-prompt-goldman-retreat-cross-strait?utm_source=rss_feed Sun, 26 Jun 2022 23:30:22 +0000 Buyers piled into Hong Kong’s property market for the second consecutive weekend after the 75-point interest rate hike by the city’s monetary authority, snapping up two-thirds of new apartments on offer. In Tuen Mun on the western fringe of Hong Kong’s New Territories, 91 of 138 flats on sale at the Grand Jete found buyers at 9pm, sales agents said. The project by CK Asset Holdings and Sun Hung Kai Properties (SHKP) range in size from 263-square foot studios to three-room flats measuring 722... https://www.scmp.com/business/article/3183074/hong-kongs-homebuyers-snap-grant-jetes-new-flats-tuen-mun-get-ahead-rising?utm_source=rss_feed https://www.scmp.com/business/article/3183074/hong-kongs-homebuyers-snap-grant-jetes-new-flats-tuen-mun-get-ahead-rising?utm_source=rss_feed Sat, 25 Jun 2022 10:57:17 +0000