https://www.scmp.com/rss/517935/feed The latest news, analysis and opinion on CME Group. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Zhou Xin Zhou Xin The world’s largest cryptocurrency conference, Token2049, kicked off in Singapore on Wednesday, attracting a record-breaking 25,000 attendees amid growing adoption of digital assets by institutions and individuals globally, partly driven by a friendlier regulatory environment in the US. Participants from more than 160 countries formed a queue stretching hundreds of metres outside the Marina Bay Sands convention centre in the morning. The two-day event features five simultaneous forums and... https://www.scmp.com/tech/blockchain/article/3327492/singapores-token2049-worlds-biggest-crypto-event-draws-250000-amid-us-policy-shift?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3327492/singapores-token2049-worlds-biggest-crypto-event-draws-250000-amid-us-policy-shift?utm_source=rss_feed Wed, 01 Oct 2025 08:00:10 +0000 Hong Kong stocks gained as investors banked on more policy easing after a batch of government data showed China’s economic recovery was still tentative. However, sentiment remained cautious ahead of the US Federal Reserve meeting later this week. The Hang Seng Index inched up 0.1 per cent to 16,737.12 at close on Monday, after losing as much as 0.5 per cent in the morning session. The Tech Index added 1.3 per cent while the Shanghai Composite Index added 1 per cent. E-commerce giant JD.com added... https://www.scmp.com/business/markets/article/3255733/hong-kong-stocks-retreat-china-data-raises-doubts-about-strength-economic-recovery?utm_source=rss_feed https://www.scmp.com/business/markets/article/3255733/hong-kong-stocks-retreat-china-data-raises-doubts-about-strength-economic-recovery?utm_source=rss_feed Mon, 18 Mar 2024 02:47:31 +0000 Hong Kong stocks dropped for a third day after China’s central bank left a key policy rate unchanged despite a deepening slowdown in the housing market. Traders scaled back bets on an imminent rate cut in the US after producer prices accelerated faster than market consensus. The Hang Seng Index slumped 1.4 per cent to 16,720.89 at the close on Friday, restraining the weekly advance to 2.3 per cent. The Tech Index slid 1.5 per cent while the Shanghai Composite Index added 0.5 per cent. Chinese... https://www.scmp.com/business/china-business/article/3255459/hong-kong-stocks-slide-third-day-china-holds-key-policy-rate-odds-us-rate-cut-weaken-amid-strong?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3255459/hong-kong-stocks-slide-third-day-china-holds-key-policy-rate-odds-us-rate-cut-weaken-amid-strong?utm_source=rss_feed Fri, 15 Mar 2024 02:50:01 +0000 Hong Kong stocks rose after the Federal Reserve left the door open on monetary policy easing, with traders delaying their rate-cut bets to May. A private survey showed China’s manufacturing industry expanded for a third month in January. The Hang Seng Index advanced 0.5 per cent to 15,566.21 at the close, halting a two-day, 3.7 per cent slump. The Tech Index surged 2 per cent, while the Shanghai Composite Index lost 0.6 per cent. Alibaba Group rebounded 2.2 per cent to HK$71.05, snapping a... https://www.scmp.com/business/banking-finance/article/3250504/hong-kong-stocks-waver-near-1-week-low-fed-damps-march-rate-cut-bets-alibaba-tencent-rebound-while?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3250504/hong-kong-stocks-waver-near-1-week-low-fed-damps-march-rate-cut-bets-alibaba-tencent-rebound-while?utm_source=rss_feed Thu, 01 Feb 2024 02:37:13 +0000 Hong Kong’s banks said they would keep their prime rates unchanged in line with the city’s monetary authority, offering a breather to businesses and mortgage borrowers as the economy struggles to crawl out of a stubborn slump. HSBC, its Hang Seng Bank unit and Bank of China (Hong Kong) kept their prime lending rate unchanged at 5.875 per cent, paying 0.875 per cent per annum for deposits. Standard Chartered kept the interest it charges its best customers at 6.125 per cent, paying 0.875 per cent... https://www.scmp.com/business/banking-finance/article/3250498/hong-kong-holds-base-rate-steady-after-us-feds-unanimous-vote-keep-options-open-dashed-optimism?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3250498/hong-kong-holds-base-rate-steady-after-us-feds-unanimous-vote-keep-options-open-dashed-optimism?utm_source=rss_feed Wed, 31 Jan 2024 23:10:19 +0000 Stocks in Hong Kong jumped after China’s market regulator suspended securities lending of restricted shares listed on mainland exchanges to stabilise stock prices, adding to a slew of measures to stem a market rout. China Evergrande sank after losing a court case to fend off liquidation. The Hang Seng Index gained 0.8 per cent to 16,077.24 on Monday, after surging as much as 1.9 per cent. The benchmark rebounded 4.2 per cent last week from a 15-month low. The Tech Index rose 0.5 per cent, while... https://www.scmp.com/business/markets/article/3250098/hong-kong-stocks-jump-more-china-measures-support-market-evergrande-liquidation-shocker-limits-rally?utm_source=rss_feed https://www.scmp.com/business/markets/article/3250098/hong-kong-stocks-jump-more-china-measures-support-market-evergrande-liquidation-shocker-limits-rally?utm_source=rss_feed Mon, 29 Jan 2024 02:58:47 +0000 The US Federal Reserve is widely expected to start cutting interest rates in the coming months, as inflation edges closer to its long-run target of 2 per cent. What is less clear, however, is when the first of those cuts will come. While the US central bank is almost certain to announce it is holding its key lending rate steady at its next rate decision on Wednesday, analysts think it could also drop some more hints that cuts are coming. In economic forecasts published alongside the last Fed... https://www.scmp.com/news/world/united-states-canada/article/3250050/us-fed-rate-cuts-become-question-when-not-if?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3250050/us-fed-rate-cuts-become-question-when-not-if?utm_source=rss_feed Sun, 28 Jan 2024 07:45:07 +0000 Bloomberg Bloomberg US regulators for the first time approved exchange-traded funds (ETFs) that invest directly in bitcoin, a move heralded as a landmark event for the roughly US$1.7 trillion digital-asset sector that will broaden access to the largest cryptocurrency on Wall Street and beyond. The Securities and Exchange Commission (SEC), whose three-part mandate includes investor protection, authorised funds from industry heavyweights BlackRock, Invesco and Fidelity to smaller competitors including Valkyrie to... https://www.scmp.com/tech/policy/article/3248009/us-regulator-sec-authorises-bitcoin-spot-etfs-cryptocurrency-breakthrough?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3248009/us-regulator-sec-authorises-bitcoin-spot-etfs-cryptocurrency-breakthrough?utm_source=rss_feed Thu, 11 Jan 2024 02:49:16 +0000 Citigroup has reined in its forecasts for a rally in Hong Kong’s most valuable stocks following a dismal start to the new year, with higher borrowing costs and China’s weak economic recovery undermining the outlook for corporate earnings. The Hang Seng Index, which tracks 82 blue-chip members, may climb to 19,000 points by midyear, according to Ka Liu, head of investment strategy and portfolio advisory at the US banking group’s unit in Hong Kong. His previous target, made in July, was... https://www.scmp.com/business/markets/article/3247796/citigroup-hsbc-lower-hong-kong-stock-targets-questions-hanging-over-corporate-earnings-china-policy?utm_source=rss_feed https://www.scmp.com/business/markets/article/3247796/citigroup-hsbc-lower-hong-kong-stock-targets-questions-hanging-over-corporate-earnings-china-policy?utm_source=rss_feed Tue, 09 Jan 2024 23:00:09 +0000 Hong Kong stocks tumbled, compounding the local market’s worst start to a year since 2005, while Chinese tech stocks hit a 13-month low as traders braced for more reports signalling a slowdown in the Chinese economy. The Hang Seng Index fell 1.9 per cent to 16,224.45 at the close on Monday. The benchmark tumbled 3 per cent last week, the weakest since a 4.6 per cent loss in the opening week of trading 19 years ago. The Tech Index tumbled 3 per cent to hit the lowest level since late November... https://www.scmp.com/business/markets/article/3247608/hong-kong-stocks-slip-tech-index-hits-lowest-november-2022-traders-brace-weak-china-reports?utm_source=rss_feed https://www.scmp.com/business/markets/article/3247608/hong-kong-stocks-slip-tech-index-hits-lowest-november-2022-traders-brace-weak-china-reports?utm_source=rss_feed Mon, 08 Jan 2024 02:45:08 +0000 HSBC led Hong Kong’s banks in keeping their prime rates steady, after the city’s monetary authority took a break from raising interest rates in lockstep with the US Federal Reserve, sparing businesses and homeowners higher borrowing costs. HSBC and its subsidiary Hang Seng Bank said they would keep their prime rates unchanged at 5.875 per cent. Bank of China (Hong Kong), one of the city’s three note-issuing banks, said it too would keep the rate it offers its best customers unchanged at 5.875... https://www.scmp.com/business/article/3244928/hong-kong-keeps-base-rate-steady-575-fed-holds-fire-holidays-2023s-final-meeting?utm_source=rss_feed https://www.scmp.com/business/article/3244928/hong-kong-keeps-base-rate-steady-575-fed-holds-fire-holidays-2023s-final-meeting?utm_source=rss_feed Wed, 13 Dec 2023 23:10:33 +0000 Hong Kong stocks extended a slump to near a 14-month low after consumer prices in China fell by the most in three years, heightening concerns deflation will erode corporate earnings and margins. The Federal Reserve is seen holding its key rate this week at its final meeting of the year. The Hang Seng Index dropped 0.8 per cent to 16,201.49 at the closing of Monday trading, the lowest level since early November last year. The Tech Index lost 1.1 per cent while the Shanghai Composite Index gained... https://www.scmp.com/business/markets/article/3244596/hong-kong-stocks-fall-toward-14-month-low-china-deflation-puts-earnings-risk-turns-market-value-trap?utm_source=rss_feed https://www.scmp.com/business/markets/article/3244596/hong-kong-stocks-fall-toward-14-month-low-china-deflation-puts-earnings-risk-turns-market-value-trap?utm_source=rss_feed Mon, 11 Dec 2023 02:52:39 +0000 Hong Kong stocks jumped on optimism the fitrst meeting in a year between President Xi Jinping and his counterpart Joe Biden will help ease geopolitical tensions. Alibaba Group and JD.com advanced after reporting strong “Singles’ Day” e-commerce sales. The Hang Seng Index rose 1.3 per cent to 17,426.21 on Monday, rebounding from a drop of as much as 0.5 per cent. The Tech Index rallied 2.3 per cent, while the Shanghai Composite Index added 0.3 per cent. Tencent climbed 2.8 per cent to HK$311.20,... https://www.scmp.com/business/markets/article/3241282/hong-kong-stocks-gain-optimism-xi-biden-meeting-ease-geopolitical-risks-while-alibaba-jdcom-report?utm_source=rss_feed https://www.scmp.com/business/markets/article/3241282/hong-kong-stocks-gain-optimism-xi-biden-meeting-ease-geopolitical-risks-while-alibaba-jdcom-report?utm_source=rss_feed Mon, 13 Nov 2023 02:38:46 +0000 Hong Kong’s stocks declined, as a surprise drop in manufacturing raised concerns about the strength of China’s economic recovery. BYD slipped, extending a three-month slump, after Berkshire Hathaway trimmed its stake again. The Hang Seng Index dropped 0.1 per cent to 17,101.78 at the close of Wednesday trading, after earlier slipping as much as 0.8 per cent. The benchmark has lost about 15 per cent following setbacks in the past three months. The Tech Index lost 0.2 per cent while the Shanghai... https://www.scmp.com/business/markets/article/3239894/alibaba-jdcom-slide-hong-kong-china-manufacturing-weakens-byd-slides-after-buffett-sells-again?utm_source=rss_feed https://www.scmp.com/business/markets/article/3239894/alibaba-jdcom-slide-hong-kong-china-manufacturing-weakens-byd-slides-after-buffett-sells-again?utm_source=rss_feed Wed, 01 Nov 2023 02:35:38 +0000 Hong Kong stocks advanced to near a two-week high on speculation mainland Chinese funds are snapping up undervalued stocks in the city as they returned from a one-week holiday. Risk appetite improved as some Federal Reserve officials turned less hawkish following a recent surge in Treasury yields. The Hang Seng Index jumped 0.8 per cent to 17,664.73 at the close of Tuesday trading, the highest level since September 29. The Tech Index rose 1.3 per cent, while the Shanghai Composite Index slipped... https://www.scmp.com/business/markets/article/3237381/hong-kong-stocks-surge-toward-3-week-high-amid-inflows-mainland-chinese-funds-while-fed-comments-fan?utm_source=rss_feed https://www.scmp.com/business/markets/article/3237381/hong-kong-stocks-surge-toward-3-week-high-amid-inflows-mainland-chinese-funds-while-fed-comments-fan?utm_source=rss_feed Tue, 10 Oct 2023 02:33:13 +0000 Hong Kong stocks fell, tracking an overnight decline in US equities after a report showing higher job listings bolstered bets the Federal Reserve would keep interest rates elevated in the near term to contain inflation. China Evergrande fell by 12 per cent, surrendering part of its rally on Tuesday. The Hang Seng Index declined 0.8 per cent to 17,195.84 on Wednesday, the lowest level since November 10, while the Tech Index dropped 1.7 per cent. Financial markets in mainland China are closed this... https://www.scmp.com/business/markets/article/3236709/hong-kong-stocks-slide-toward-11-month-low-outlook-higher-interest-rates-while-rally-china?utm_source=rss_feed https://www.scmp.com/business/markets/article/3236709/hong-kong-stocks-slide-toward-11-month-low-outlook-higher-interest-rates-while-rally-china?utm_source=rss_feed Wed, 04 Oct 2023 02:44:23 +0000 Hong Kong kept its base rate unchanged after the US Federal Reserve skipped its monetary tightening cycle for the second time this year, giving the city’s businesses and borrowers breathing room amid a struggling economy. The base rate was kept at 5.75 per cent, the Hong Kong Monetary Authority (HKMA) said before financial markets opened. Hours earlier, the Fed maintained its target rate unchanged at between 5.25 per cent and 5.5 per cent, taking its second recess since the cost of money began... https://www.scmp.com/business/article/3235251/hkma-takes-second-break-raising-its-base-rate-after-us-feds-hawkish-skip-giving-hong-kongs?utm_source=rss_feed https://www.scmp.com/business/article/3235251/hkma-takes-second-break-raising-its-base-rate-after-us-feds-hawkish-skip-giving-hong-kongs?utm_source=rss_feed Wed, 20 Sep 2023 23:02:24 +0000 Hong Kong stocks slipped to a four-week low as more strategists turned bearish on the market outlook amid China’s housing slump and policy disappointment. Prices remained lower before an expected pause in the US policy tightening cycle. The Hang Seng Index fell 0.6 per cent to 17,885.60 at the closing of Wednesday trading, the lowest level since August 23. The Tech Index declined 1.6 per cent while the Shanghai Composite Index eraseg gains to lose 0.5 per cent. Tencent weakened 1 per cent to... https://www.scmp.com/business/markets/article/3235142/hong-kong-stocks-slip-4-week-low-fed-hkma-decisions-while-blackrock-loses-buy-conviction-china?utm_source=rss_feed https://www.scmp.com/business/markets/article/3235142/hong-kong-stocks-slip-4-week-low-fed-hkma-decisions-while-blackrock-loses-buy-conviction-china?utm_source=rss_feed Wed, 20 Sep 2023 02:43:37 +0000 Hong Kong stocks climbed before the Federal Reserve and the city’s monetary authority make their policy moves later this week. Beijing vowed again to support foreign businesses, while property developers continue to dent sentiment. The Hang Seng Index gained 0.4 per cent to 17,997.17 at the close of Tuesday trading, after earlier falling as much as 0.6 per cent to a four-week low. The Tech Index declined 0.1 per cent while the Shanghai Composite Index was little changed. Alibaba Group climbed... https://www.scmp.com/business/markets/article/3235005/hong-kong-stocks-slip-4-week-low-investors-shun-banks-developers-fed-hkma-policy-actions?utm_source=rss_feed https://www.scmp.com/business/markets/article/3235005/hong-kong-stocks-slip-4-week-low-investors-shun-banks-developers-fed-hkma-policy-actions?utm_source=rss_feed Tue, 19 Sep 2023 02:43:42 +0000 The US Federal Reserve is widely expected to hold interest rates steady on Wednesday after a summer of mixed economic data, while leaving the door open to another hike if needed. The Fed has raised interest rates 11 times over the last 18 months, lifting its key lending rate to a level not seen for 22 years as it tackles inflation still stubbornly above its long-term target of 2 per cent. After falling sharply over the last year, inflation has ticked up again in recent months due to a spike in... https://www.scmp.com/news/world/united-states-canada/article/3234825/us-fed-likely-pause-rate-hikes-despite-higher-inflation?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3234825/us-fed-likely-pause-rate-hikes-despite-higher-inflation?utm_source=rss_feed Sun, 17 Sep 2023 02:05:13 +0000 Chinese stocks have seen the worst selling pressure, indicated by many underweight positions among global funds, according to CLSA, a unit of China’s biggest securities firm. An imminent pause in the Federal Reserve’s tightening policy is likely to reverse market pessimism. China is still appealing to investors as the cheap valuation and secular growth could provide better returns relative to other equity markets, head of research Shaun Cochran said. It is time for Beijing to address “absolutely... https://www.scmp.com/business/markets/article/3234016/clsa-says-sell-chinese-stocks-has-passed-strongest-point-and-beijing-needs-address-market-risk?utm_source=rss_feed https://www.scmp.com/business/markets/article/3234016/clsa-says-sell-chinese-stocks-has-passed-strongest-point-and-beijing-needs-address-market-risk?utm_source=rss_feed Sun, 10 Sep 2023 22:30:16 +0000 Hong Kong stocks snapped a three-day rebound as earnings results from some industry bellwethers heightened concerns about their business outlook, while the US central bank retained a hawkish stance on monetary policy to contain inflation. The Hang Seng Index fell 1.4 per cent to 17,956.38 at the close, trimming the weekly gain to less than 0.1 per cent. The Tech Index dropped 2.4 per cent. The Shanghai Composite Index retreated 0.6 per cent, while the nation’s securities regulator called on... https://www.scmp.com/business/china-business/article/3232240/hong-kong-stocks-drop-trimming-weekly-gain-mixed-bag-corporate-earnings-fed-rate-policy-outlook?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3232240/hong-kong-stocks-drop-trimming-weekly-gain-mixed-bag-corporate-earnings-fed-rate-policy-outlook?utm_source=rss_feed Fri, 25 Aug 2023 02:50:44 +0000 Hong Kong stocks climbed to a five-week high, tracking overnight gains in US equities, as traders bet the Federal Reserve is almost done with its policy tightening. The odds of a pause in its September meeting surged. Xpeng soared by a record 34 per cent. The Hang Seng Index gained 1.4 per cent to 19,639.11 at the closing of Thursday trading, the highest since June 29. The Tech Index jumped 2.9 per cent, while the Shanghai Composite Index lost 0.2 per cent. Alibaba Group rose 1.7 per cent to... https://www.scmp.com/business/markets/article/3229068/tencent-hsbc-lift-hong-kong-stocks-bets-fed-pause-september-xpeng-surges-32-cent-vw-purchase-plan?utm_source=rss_feed https://www.scmp.com/business/markets/article/3229068/tencent-hsbc-lift-hong-kong-stocks-bets-fed-pause-september-xpeng-surges-32-cent-vw-purchase-plan?utm_source=rss_feed Thu, 27 Jul 2023 02:29:02 +0000 After pausing in June, the United States Federal Reserve is widely expected to hike interest rates again on Wednesday, adopting its most restrictive monetary stance for 22 years despite recent signs of slowing inflation. After 10 consecutive hikes in just over a year, the Fed halted its aggressive campaign of monetary tightening last month to give policymakers more time to assess the health of the US economy, and the impact of recent banking stresses on lending conditions. In the weeks since,... https://www.scmp.com/news/world/united-states-canada/article/3228633/after-pause-us-federal-reserve-likely-hike-interest-rates-22-year-high?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3228633/after-pause-us-federal-reserve-likely-hike-interest-rates-22-year-high?utm_source=rss_feed Sun, 23 Jul 2023 05:45:15 +0000 Bloomberg Bloomberg Parts of the crypto market saw frenzied trading following a break in the regulatory clouds surrounding the US digital-asset sector. The spike stemmed from a July 13 court decision in the Securities and Exchange Commission’s case against Ripple Labs Inc. The ruling served to dent the SEC’s argument that most tokens are securities that fall under its strict purview. Spot trading volume in XRP, the coin associated with Ripple and which was at the heart of the SEC lawsuit, jumped more than 1,700 per... https://www.scmp.com/tech/tech-trends/article/3228056/crypto-trading-jumps-after-ripples-partial-victory-over-us-sec-determining-some-crypto-sales-are-not?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3228056/crypto-trading-jumps-after-ripples-partial-victory-over-us-sec-determining-some-crypto-sales-are-not?utm_source=rss_feed Tue, 18 Jul 2023 03:18:04 +0000 Hong Kong stocks retreated by the most in more than four months as further signs of slowdown in mainland China hurt the nation’s currency. A sell-off in Chinese banks deepened, while minutes from a Federal Reserve meeting showed officials still favour more tightening this year. The Hang Seng Index dropped 3 per cent to 18,533.05 at the close of Thursday trading, the worst sell-off since a 3 per cent loss on March 10, after sliding as much as 3.3 per cent earlier. The Tech index lost 1.7 per... https://www.scmp.com/business/markets/article/3226709/tencent-alibaba-health-drag-hong-kong-stocks-slowdown-hurts-yuan-while-fed-minutes-reaffirm-rate?utm_source=rss_feed https://www.scmp.com/business/markets/article/3226709/tencent-alibaba-health-drag-hong-kong-stocks-slowdown-hurts-yuan-while-fed-minutes-reaffirm-rate?utm_source=rss_feed Thu, 06 Jul 2023 02:43:30 +0000 Bank of China, the nation’s largest overseas lender, overtook HSBC for the first time in more than eight years in arranging bond sales in Hong Kong, as investment bankers jostled for a slice of an expanding market while equity offerings slumped to a 20-year low. Bank of China (Hong Kong) was credited with roles in 110 deals worth HK$49.4 billion (US$6.3 billion) in the first half of 2023 including self-led deals, according to Bloomberg’s ranking. Bond bankers at the lender, one of the three... https://www.scmp.com/business/markets/article/3226409/bank-china-pips-hsbc-arranging-hong-kong-bond-deals-ipo-bankers-stare-sars-era-collapse?utm_source=rss_feed https://www.scmp.com/business/markets/article/3226409/bank-china-pips-hsbc-arranging-hong-kong-bond-deals-ipo-bankers-stare-sars-era-collapse?utm_source=rss_feed Mon, 03 Jul 2023 23:30:09 +0000 The US dollar-China yuan currency divergence trade is in full flow. Unless Beijing gets a grip on the exchange rate soon, the yuan could hit 15-year lows very soon. It’s a dilemma for the government as a weaker yuan might be good news for China’s hard-pressed exporters, but it could also open Beijing up to fresh accusations from Washington of currency manipulation. This would be bad timing, especially after US Secretary of State Antony Blinken’s visit to China this week for talks to help... https://www.scmp.com/comment/opinion/article/3224571/us-dollar-yuan-divergence-trade-could-spin-out-control-without-intervention-china-soon?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3224571/us-dollar-yuan-divergence-trade-could-spin-out-control-without-intervention-china-soon?utm_source=rss_feed Mon, 19 Jun 2023 22:15:07 +0000 While Hong Kong argues about building houses on the only golf course in the city capable of staging elite events, two of the women’s games biggest stars have signed up to play in the Aramco Team Series stop in London Nelly Korda and Leona Maguire will be part of the field at the Centurion Club next month, in the third ATS tournament of the season. The fourth edition of the series, which is backed by Saudi Arabia’s Public Investment Fund, will take place in Hong Kong in October. Korda, currently... https://www.scmp.com/sport/golf/article/3223953/aramco-team-series-korda-and-maguire-join-stellar-field-london-third-stop-season?utm_source=rss_feed https://www.scmp.com/sport/golf/article/3223953/aramco-team-series-korda-and-maguire-join-stellar-field-london-third-stop-season?utm_source=rss_feed Tue, 13 Jun 2023 11:07:35 +0000 Hong Kong stocks rose to a three-week high after China’s central bank injected more liquidity into the financial system, stoking speculation it will lower borrowing costs this month. Traders stepped up bets on a rate-hike pause in the US before a report signalling slower inflation. The Hang Seng Index added 0.6 per cent to 19,521.42 at the close of Tuesday trading to reach the highest level since May 22. The Tech Index rallied 2.4 per cent, while the Shanghai Composite Index added 0.2 per... https://www.scmp.com/business/article/3223872/hong-kong-stocks-struggle-stimulus-waiting-game-while-confidence-grows-likely-fed-pause-rates?utm_source=rss_feed https://www.scmp.com/business/article/3223872/hong-kong-stocks-struggle-stimulus-waiting-game-while-confidence-grows-likely-fed-pause-rates?utm_source=rss_feed Tue, 13 Jun 2023 03:08:20 +0000 Central banks are supposed to be trusted guardians to promote the right conditions for sustainable growth and financial stability, but are they taking needless risks in their haste to drive down inflation? The undue speed at which global interest rates have been ramped up in the past year suggests they are turning a blind eye to global growth hitting the skids again. The euro zone witnessed this first-hand last week, sinking into recession while the European Central Bank (ECB) has carried on... https://www.scmp.com/comment/opinion/article/3223771/raising-interest-rates-central-banks-are-playing-russian-roulette-global-economy?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3223771/raising-interest-rates-central-banks-are-playing-russian-roulette-global-economy?utm_source=rss_feed Mon, 12 Jun 2023 13:30:19 +0000 Hong Kong stocks held near a two-week high before an official report that may show slower China factory output and retail sales, adding pressure on Beijing to respond with stimulus. Traders bet the Federal Reserve will pause its policy tightening amid recession risks. The Hang Seng Index gained less than 0.1 per cent to 19,404.31 at the close of Monday trading, after losing as much as 0.7 per cent. The benchmark climbed in the past two weeks to the highest since May 23. The Tech Index advanced... https://www.scmp.com/business/banking-finance/article/3223741/most-hong-kong-stocks-slip-weaker-china-factory-retail-data-while-traders-bet-fed-rate-pause?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3223741/most-hong-kong-stocks-slip-weaker-china-factory-retail-data-while-traders-bet-fed-rate-pause?utm_source=rss_feed Mon, 12 Jun 2023 02:28:45 +0000 After a humbling start to the second quarter, investors appear to have rushed back into Hong Kong-listed stocks. While a rebound is due after a 19.6 per cent sell-off from a peak in January, the next run-up might be short-lived with dangers lurking at year-end, some strategists said. The Hang Seng Index has risen 6.3 per cent to 19,389.95 this month, promising to halt the successive losses seen in April and May. Cheapened valuations and positive outcomes in the US on the debt ceiling and rates... https://www.scmp.com/business/markets/article/3223704/retail-investors-rush-back-hong-kong-stocks-market-bulls-face-fed-test-and-strategists-warn-pitfalls?utm_source=rss_feed https://www.scmp.com/business/markets/article/3223704/retail-investors-rush-back-hong-kong-stocks-market-bulls-face-fed-test-and-strategists-warn-pitfalls?utm_source=rss_feed Sun, 11 Jun 2023 23:30:11 +0000 Hong Kong stocks advanced, logging the biggest weekly gain in two months, as traders stepped up bets on interest-rate cuts amid growing concerns about US bank failures and recession risks. The Hang Seng Index rose 0.5 per cent to 20,049.31 at the close of Friday trading. This week’s winning of 0.8 per cent is the most since the week ended March 31. The Tech Index jumped 1 per cent while the Shanghai Composite Index declined 0.5 per cent. Baidu surged 3.8 per cent to HK$119.70 while Ping An... https://www.scmp.com/business/china-business/article/3219445/ping-baidu-alibaba-push-hong-kong-stocks-best-week-march-us-rate-cut-bets-amid-bank-failures?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3219445/ping-baidu-alibaba-push-hong-kong-stocks-best-week-march-us-rate-cut-bets-amid-bank-failures?utm_source=rss_feed Fri, 05 May 2023 02:35:10 +0000 Asian companies with strong domestic demand will perform better and offer bountiful returns for investors, thanks to China’s economic recovery and consumer demand in the Asia-Pacific region, said the chief market strategist at the asset-management unit of Wall Street’s largest bank. “We prefer Asia and China equities, and more domestically driven companies rather than exporters,” said JPMorgan Asset Management’s Tai Hui. “We think some of the more domestically connected economies are likely to... https://www.scmp.com/business/banking-finance/article/3217093/asian-firms-strong-domestic-demand-offer-bountiful-returns-investors-jpmorgan-asset-management-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3217093/asian-firms-strong-domestic-demand-offer-bountiful-returns-investors-jpmorgan-asset-management-says?utm_source=rss_feed Fri, 14 Apr 2023 12:00:19 +0000 Hong Kong stocks gained as mainland China funds supported the market with purchases in big-cap tech companies while major corporate insiders retreated. Slowing price gains in the US fuelled hopes the Federal Reserve will temper or pause its rate increases soon. The Hang Seng Index climbed 0.5 per cent to 20,434.25 at the closing of Friday trading, bringing the week’s gain to 0.5 per cent. The Tech Index added 0.1 per cent while the Shanghai Composite Index advanced 0.6 per cent. Alibaba Group... https://www.scmp.com/business/china-business/article/3217009/hong-kong-stocks-advance-mainland-china-funds-step-big-cap-purchases-while-fed-outlook-favours-risk?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3217009/hong-kong-stocks-advance-mainland-china-funds-step-big-cap-purchases-while-fed-outlook-favours-risk?utm_source=rss_feed Fri, 14 Apr 2023 02:51:44 +0000 Chicago’s CME Group opened options trading for Chinese yuan futures on Monday, as it looks to deepen a market that investors use for betting or hedging against moves in China’s currency. Hong Kong has offered similar exchange-traded options since 2017, though bringing the product to CME – the world’s biggest derivatives exchange – may be a step towards competing with the banks that dominate options by selling directly to customers. “Many traders no longer view CNH as an emerging-market currency... https://www.scmp.com/business/banking-finance/article/3215793/cme-debuts-offshore-yuan-options-tap-rising-trading-demand?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3215793/cme-debuts-offshore-yuan-options-tap-rising-trading-demand?utm_source=rss_feed Mon, 03 Apr 2023 03:33:08 +0000 The rebound in Hong Kong stocks this month has legs as the Federal Reserve gets closer to pausing its policy and China’s economic recovery strengthens, analysts said. Tencent and CNOOC are among likely outperformers. The city’s stock market is enjoying better liquidity amid a decline in US Treasury yields, analysts at Ping An Securities including Xue Wei said. China’s new leadership has also become more vocal in delivering pro-growth messages to investors, aiding market confidence, he said. The... https://www.scmp.com/business/china-business/article/3215237/ping-analysts-pick-smic-tencent-cnooc-likely-stock-winners-hong-kong-poised-benefit-fed-rate-pause?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3215237/ping-analysts-pick-smic-tencent-cnooc-likely-stock-winners-hong-kong-poised-benefit-fed-rate-pause?utm_source=rss_feed Wed, 29 Mar 2023 07:38:17 +0000 Hong Kong’s major banks chose to keep their prime rate unchanged after a quarter-point increase by the city’s monetary authority in lockstep with the US Federal Reserve, which voted unanimously to put anti-inflation at the forefront of its monetary policy. HSBC was the first lender to announce at noon that it would keep its best lending rate unchanged at 5.625 per cent per annum, according to a statement by the largest of Hong Kong’s three currency-issuing banks. Its subsidiary Hang Seng Bank... https://www.scmp.com/business/banking-finance/article/3214506/hong-kong-raises-base-rate-quarter-point-amid-feds-belief-it-can-quell-inflation-without-deepening?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3214506/hong-kong-raises-base-rate-quarter-point-amid-feds-belief-it-can-quell-inflation-without-deepening?utm_source=rss_feed Wed, 22 Mar 2023 23:03:21 +0000 This is the second part of a two-part series looking at upcoming changes at Hong Kong Exchanges and Clearing Limited, which operates the Hong Kong bourse and owns the London Metal Exchange. The fallout from the chaos in nickel trading last March has hurt volumes at the 146-year-old commodities bourse, spawned lawsuits and emboldened potential competitors. Part one is here. The London Metal Exchange (LME) is still struggling to regain its reputation and standing as the predominant market for... https://www.scmp.com/business/banking-finance/article/3213837/london-metal-exchange-owned-hkex-seeks-rebuild-reputation-dominance-year-after-nickel-chaos?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3213837/london-metal-exchange-owned-hkex-seeks-rebuild-reputation-dominance-year-after-nickel-chaos?utm_source=rss_feed Sat, 18 Mar 2023 02:00:18 +0000 The collapse of Silicon Valley Bank (SVB) is likely to be a boon for Chinese stocks, as the biggest failure of a lender since the 2008 global financial crisis could lead to less aggressive interest-rate hikes in the US, one of the key concerns weighing on local equities, according to Shenwan Hongyuan Group. While China’s stocks may initially dip because of a knee-jerk reaction to the sway in sentiment in global financial markets, local markets will quickly stabilise as the likelihood of jumbo... https://www.scmp.com/business/china-business/article/3213325/silicon-valley-banks-collapse-likely-boost-chinese-stocks-tempering-us-interest-rate-rises-brokerage?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3213325/silicon-valley-banks-collapse-likely-boost-chinese-stocks-tempering-us-interest-rate-rises-brokerage?utm_source=rss_feed Mon, 13 Mar 2023 06:00:16 +0000 Hong Kong stocks slumped by most in five weeks amid China’s moves to strengthen its regulatory oversight of the financial markets while preparing to counter US technology curbs. Traders bet the Federal Reserve will tighten more aggressively later this month to stem inflation. The Hang Seng Index fell 2.4 per cent to 20,051.25 at the close of Wednesday trading, the biggest drop since January 30. The benchmark earlier fell below 20,000 points for the first time since February 28. The Tech Index... https://www.scmp.com/business/china-business/article/3212747/hong-kong-stocks-tumble-most-5-weeks-amid-china-regulatory-overhaul-powell-goes-super-hawkish-fed?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3212747/hong-kong-stocks-tumble-most-5-weeks-amid-china-regulatory-overhaul-powell-goes-super-hawkish-fed?utm_source=rss_feed Wed, 08 Mar 2023 02:43:06 +0000 Hong Kong stocks fell into a correction after a short-seller report triggered a sell-off in powertools maker Techtronic. The market earlier rose on expectations stronger corporate earnings from Alibaba Group Holding and other industry leaders will boost sentiment. The Hang Seng Index slid 0.4 per cent to 20,351.35 at the close of Thursday trading to the lowest level since January 3. The drop took the index’s decline past 10 per cent from the peak on January 27, a technical pullback. The Tech... https://www.scmp.com/business/banking-finance/article/3211187/hong-kong-stocks-flirt-correction-alibaba-hkex-earnings-traders-lose-hopes-faster-fed-downshift?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3211187/hong-kong-stocks-flirt-correction-alibaba-hkex-earnings-traders-lose-hopes-faster-fed-downshift?utm_source=rss_feed Thu, 23 Feb 2023 02:34:36 +0000 Asia’s newest carbon credits market launched in Hong Kong to much fanfare last November, when bankers, traders, asset managers and some of the biggest emitters of greenhouse gases were feted at the city’s stock exchange. “Our ambition is to develop an easy-access, one-stop integrated international carbon marketplace … to expedite the low carbon transition journey at scale in Hong Kong, mainland China, Asia and beyond,” said Laura Cha Shih May-lung, the chairwoman of the Hong Kong Exchanges &... https://www.scmp.com/business/article/3205861/after-razzmatazz-its-kick-long-hard-slog-begins-hong-kongs-carbon-credits-market?utm_source=rss_feed https://www.scmp.com/business/article/3205861/after-razzmatazz-its-kick-long-hard-slog-begins-hong-kongs-carbon-credits-market?utm_source=rss_feed Sat, 07 Jan 2023 02:00:12 +0000 Hong Kong stocks sank, extending a sell-off to the lowest level in 11 years, after a strong US employment data strengthened bets for another jumbo rate hike. Chinese onshore stocks retreated as higher Covid-19 cases hurt holiday spending. The Hang Seng Index lost 3 per cent to 17,216.66 at the close of trading on Monday, adding to an almost HK$5 trillion (US$637 billion) rout among its 73 members this year. Today’s setback erased all of the rally last week. The Tech Index slid 4 per cent, while... https://www.scmp.com/business/markets/article/3195384/hong-kong-stocks-suffer-major-sell-bets-fed-hike-strengthen-chinas?utm_source=rss_feed https://www.scmp.com/business/markets/article/3195384/hong-kong-stocks-suffer-major-sell-bets-fed-hike-strengthen-chinas?utm_source=rss_feed Mon, 10 Oct 2022 02:50:45 +0000 Is the Federal Reserve easing its grip on US monetary policy? After the release last week of the minutes of the Fed’s July 26-27 policy meeting, there is a growing sense the US central bank will back off from a more aggressive interest rate tightening in the next few months. Instead, it may be favouring a more gradual approach while it tries to rationalise the conflicting policy signals between the US recession, the spike in inflation and global supply-side price pressures beyond its control. US... https://www.scmp.com/comment/opinion/united-states/article/3189709/federal-reserve-backing-interest-rate-overkill?utm_source=rss_feed https://www.scmp.com/comment/opinion/united-states/article/3189709/federal-reserve-backing-interest-rate-overkill?utm_source=rss_feed Mon, 22 Aug 2022 16:30:21 +0000 In the 25 years since the handover, Hong Kong has strengthened its role as Asia’s premier financial hub, outgunning regional peers to become the top venue for global stock offerings and the busiest market outside mainland China and Japan. The value of 2,573 companies listed in the city has grown 12 times to HK$38.9 trillion (US$5 trillion) since 1997, while the average daily stock turnover has multiplied 10 times in the span. In nine yardsticks compiled by the Post, growth has compounded at... https://www.scmp.com/business/banking-finance/article/3183420/foresight-and-fortune-hong-kong-stock-exchange-thrives-25?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3183420/foresight-and-fortune-hong-kong-stock-exchange-thrives-25?utm_source=rss_feed Wed, 29 Jun 2022 08:00:19 +0000 Wall Street tumbled into what is called a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20 per cent below its record set early this year. The index sank 3.9 per cent in the first chance for investors to trade after getting the weekend to reflect on the stunning news that inflation is getting worse, not better. The Dow Jones Industrial Average was briefly down more than 1,000 points before finishing with a loss of 876. At the centre of... https://www.scmp.com/news/world/united-states-canada/article/3181570/bear-market-hits-wall-street-stocks-bonds-and?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3181570/bear-market-hits-wall-street-stocks-bonds-and?utm_source=rss_feed Mon, 13 Jun 2022 22:14:09 +0000 Georgina Lee Georgina Lee Samsung Asset Management has launched a blockchain-focused exchange-traded fund, the first of its kind in Hong Kong, which will track companies involved in the field including cryptocurrencies. The company has raised US$12 million from institutional investors for its Samsung Blockchain Technologies ETF, which will trade under the stock code “3171” from June 23, said Terence Ling, head of ETF distribution at Samsung Asset Management (HK). “The application of blockchain technologies is very wide... https://www.scmp.com/business/banking-finance/article/3181220/samsung-asset-management-launches-first-blockchain-focused?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3181220/samsung-asset-management-launches-first-blockchain-focused?utm_source=rss_feed Sun, 12 Jun 2022 04:39:15 +0000 The London Metal Exchange (LME) has been sued in the British courts by affiliates of American hedge fund Elliott Management over its controversial decision in early March to suspend trading of nickel futures contracts and cancel trades in the metal amid a short squeeze on the century-old bourse. Elliott International and Elliott Associates have filed a judicial review claim in England’s High Court of Justice against LME for US$456 million, claiming that the trading suspension and trades... https://www.scmp.com/business/banking-finance/article/3180528/lme-faces-elliott-internationals-us456-million-law-suit?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3180528/lme-faces-elliott-internationals-us456-million-law-suit?utm_source=rss_feed Mon, 06 Jun 2022 01:58:53 +0000